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Fangdd Network Group Ltd. Reports Termination of Patent Purchase Agreement - Form 6-K

$DUO
Form 6-K
Filed on: 2025-01-17
Source
Fangdd Network Group Ltd. Reports Termination of Patent Purchase Agreement - Form 6-K

Here are the key insights extracted from the specified section of the financial report for Fangdd Network Group Ltd.:

  1. Type of Filing: This is a Form 6-K report, which is typically used by foreign private issuers to report certain events or changes.
  2. Company Information:
  • Name: Fangdd Network Group Ltd.
  • Address: Room 1501, Shangmei Technology Building, 15 Dachong Road, Nanshan District, Shenzhen, 518072, People's Republic of China.
  • Contact Number: +86 755 2699 8968.
  • Commission File Number: 001-39109.
  1. Reporting Period: The report is dated for January 2025.
  2. Termination of Patent Purchase Agreement:
  • Fangdd Network Group Ltd. previously entered into a patent purchase agreement to acquire patents related to cloud computing technology in China for a purchase price of US$35,000,000.
  • The agreement included provisions for additional earnout payments if certain conditions were met.
  • The agreement could be terminated by either party if the transaction did not close by September 21, 2024.
  • Since the transaction did not close by the specified date, a Termination Agreement was executed on January 15, 2025, to mutually terminate the Patent Purchase Agreement.
  1. Reference to Additional Documents: The details of the Termination Agreement are qualified by reference to Exhibit 99.1, which is incorporated by reference in this report.
  2. Incorporation by Reference: This report and Exhibit 99.1 are incorporated into the registration statement of Fangdd Network Group Ltd. on Form F-3 (No. 333-267397) to the extent not superseded by subsequently filed documents.
  3. Signatory Information:
  • Name: Xi Zeng
  • Title: Chief Executive Officer and Chairman of the Board of Directors.
  • Date of Signature: January 17, 2025.

This summary highlights the company’s strategic move regarding patent acquisition and its subsequent termination, as well as relevant administrative details regarding the filing.