Ucloudlink group inc. announces private placement of us$5.0 million convertible debentures

Hong kong, jan. 06, 2022 (globe newswire) -- ucloudlink group inc. (“ucloudlink” or the “company”) (nasdaq: ucl), the world's first and leading mobile data traffic sharing marketplace, today announced that it has entered into definitive agreements with ya ii pn, ltd., a limited partnership managed by yorkville advisor global (the “purchaser”), pursuant to which ucloudlink will issue and sell convertible debentures in a principal amount of us$5.0 million to the purchaser at a purchase price equal to 95% of the principal amount through private placement. the private placement of such convertible debentures is subject to customary closing conditions.
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