TuanChe sells 761,719 shares at $1.45 in private placement

TuanChe (TC) announced that it has entered into a definitive agreement with a single institutional investor for the purchase and sale of 761,719 of the company’s American depositary shares. The effective offering price for each ADS and accompanying warrant is $1.449 per share. The transaction is expected to close on or about October 28. Maxim Group is acting as the placement agent.