MissFresh, a Chinese online grocery delivery platform, has entered an agreement with Yorkville Advisor to sell up to $300 million worth of B shares over the next three years, according to a company statement released Monday. MissFresh CEO Xu Zheng said the financing will help the company to strengthen its end-to-end supply chain capabilities and enhance product offerings. The company recorded total net revenues of RMB 2.1 billion ($329.3 million) in the third quarter of 2021, representing a 47.2% year-on-year increase from RMB 1.44 billion in 2020. MissFresh, along with rivals like Dingdong Maicai, has suffered from a cooling-off in China’s community grocery group-buy industry. The company’s shares are trading at around $2 per share, down nearly 80% from around $10 when the company went public on Nasdaq in August 2021. [MissFresh press release]