SECURITIES AND EXCHANGE COMMISSION

Washington D.C. 20549

 

 

 

FORM 6-K

 

 

 

REPORT OF FOREIGN ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of April 2020

 

Commission File Number: 001- 39258

 

 

 

METEN EDTECHX EDUCATION GROUP LTD. 

 

 

 

3rd Floor, Tower A

Tagen Knowledge & Innovation Center

2nd Shenyun West Road, Nanshan District

Shenzhen, Guangdong Province 518000

People’s Republic of China

(Address of principal executive offices) 

 

 

 

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

 

Form 20-F   ☒            Form 40-F   ☐

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):  ☐

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):  ☐

 

Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

 

Yes  ☐            No  ☒

 

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- N/A

 

 

 

 

 

 

Meten EdtechX Education Group Ltd.

Form 6-K

 

TABLE OF CONTENTS

 

  Page
Signature 2
Exhibit 99.1 — Press Release dated April 14, 2020

 

1

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

  Meten EdtechX Education Group Ltd.
     
  By: /s/ Siguang Peng
  Name:  Siguang Peng
  Title: Chief Executive Officer

 

Date: April 15, 2020

 

2

 

 

 

Exhibit 99.1

 

Termination of Forward Purchase Contract with Zhu Hai Quan Shi Investment Management Ltd.

 

SHENZHEN, China, April 14, 2020 (GLOBE NEWSWIRE) -- Meten EdtechX Education Group Ltd. (“Meten EdtechX” or the “Company”), a leading English language training service provider in China, announces that it has terminated a forward purchase contract with Zhu Hai Quan Shi Investment Management Ltd (as amended, the “Forward Purchase Contract”).

 

In March 2020, Zhu Hai Quan Shi Investment Management Ltd. (“Zhu Hai Quan Shi”) agreed to purchase 400,000 ordinary shares of Meten EdtechX Education Group Ltd. for a purchase price of $10.00 per share in a private placement (the “$4 million PIPE”).

 

According to the terms and conditions of the Forward Purchase Contract, Zhu Hai Quan Shi was required to pay the purchase price of $4,000,000 by an early April 2020 deadline that was agreed among the parties. As a result of the failure by Zhu Hai Quan Shi to pay the purchase price by the agreed deadline, the Company has decided to terminate the Forward Purchase Contract.

 

As a result of the failure to consummate the $4 million PIPE, the Company will issue an aggregate of 192,308  ordinary shares to the three founder shareholders of the Company in lieu of the $2,000,000 cash consideration that such shareholders have elected to receive in connection with the business combination involving the Company, subject to the consummation of the $4 million PIPE, as previously announced in the shell company report on Form 20FR12B filed on March 31, 2020.

 

All the other private placements pursuant to forward purchase contracts entered by the Company have been completed and collected in full.

 

About Meten EdtechX

 

Meten EdtechX is a leading English language training (“ELT”) service provider in China, delivering English language and future skills training for Chinese students and professionals. Through a sophisticated digital platform and nationwide network of learning centers, the Company provides its services under three industry-leading brands: Meten (adult and junior ELT services), ABC (primarily junior ELT services) and Likeshuo (online ELT). It offers superior teaching quality and student satisfaction, which are underpinned by cutting edge technology deployed across its business, including AI-driven centralized teaching and management systems that record and analyze learning processes in real time.

 

The Company is committed to improving the overall English language competence and competitiveness of the Chinese population to keep abreast of the rapid development of globalization. Its experienced management is focused on further developing its digital platform and expanding its network of learning centers to deliver a continually evolving service offerings to a growing number of students across China.

 

Contact IR:
Lucy Yves Citigate Dewe Rogerson
meten@citigatedewerogerson.com