Bus Online Co., Ltd. announced it has entered into purchase agreement with returning investor Shanghai Tianji Investment Co., Ltd for issuing not more than 62,657,677 A shares at a par value of CNY 1 per share and at an issue price of CNY 2.67 per share for gross proceeds of not more than CNY 167,295,997.59 on December 20, 2021. The investor holds 20.51% stake of the company pre-transaction. The maximum number of non-publicly issued shares does not exceed 30% of the company's total share capital before the issuance.

The transaction was approved by the board of directors of the company in its the 14th meeting of the 5th directorate. The transaction is subjected to shareholders approval and the China Securities Regulatory Commission approval. The securities issued are subjected to 36 months hold period.