Mars Finance reports that Nasdaq-listed The9 Limited has announced a private placement agreement with cryptocurrency investment funds Elune Capital, Fine Vision Fund, and Bripheno Pte. Ltd., with the three parties collectively investing $8 million in The9. According to the agreement, The9 will issue Class A common shares to investors at the average closing price over the 30 trading days prior to the agreement signing, with the relevant shares subject to statutory lock-up periods. Meanwhile, The9 plans to establish a new company dedicated to operating its global GameFi platform and intends to introduce a third-party international crypto foundation as a strategic partner, using its issued GameFi tokens as the platform's official cryptocurrency. Additionally, The9 will collaborate with cryptocurrency exchanges to promote user participation in the GameFi ecosystem. The9 will also issue a total of 302 million warrants to investors, valid for two years. Some warrants will have an exercise price of $60 per ADS, with the remaining warrants divided into two batches, to be activated after strategic cooperation agreements are signed with investors or their business partners, and after the official launch of The9's GameFi platform, with exercise prices consistent with the ADS issuance price in this round.