Business
Lichen China Limited Announces Closing of US$16 Million Initial Public Offering
JINJIANG, China, Feb. 8, 2023 /PRNewswire/ -- Lichen China Limited (the "Company" or "Lichen China"), a dedicated financial and taxation service provider in
About this update from Lichen International Limited
[{"type":"text","content":"JINJIANG, China, Feb. 8, 2023 /PRNewswire/ -- Lichen China Limited (the \"Company\" or \"Lichen China\"), a dedicated financial and taxation service provider in China, today announced the pricing of its initial public offering (the \"Offering\") of 4,000,000 Class A ordinary shares at a public offering price of US$4.00 per Class A ordinary share. The Class A ordinary shares began trading on the Nasdaq Capital Market on February 6, 2023 under the ticker symbol \"LICN.\"\nThe Company received aggregate gross proceeds of US$16 million from the Offering, before deducting underwriting discounts and other related expenses. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 600,000 Class A ordinary shares at the public offering price, less underwriting discounts.\nProceeds from the Offering will be used to expand the Company's financial and taxation solution services, strengthen research and development (\"R&D\") capabilities and expand self-developed software, improve brand recognition through multi-channel marketing, and working capital and general corporate matters.\nThe Offering was conducted on a firm commitment basis. Univest Securities, LLC was acting as the sole underwriter and book-running manager for the Offering. Ortoli Rosenstadt LLP was acting as U.S. counsel to the Company, and Hunter Fischer Taubman & Li LLC was acting as U.S. counsel to Univest Securities, LLC in connection with the Offering.\nA registration statement on Form F-1 relating to the Offering was filed with the U.S. Securities and Exchange Commission (\"SEC\") (File Number: 333- 264624) and was declared effective by the SEC on February 3, 2023. The Offering was being made only by means of a prospectus, forming a part of the registration statement. Copies of the prospectus relating to the Offering may be obtained from Univest Securities, LLC, by email at [email protected], or by standard mail to Univest Securities, LLC, 75 Rockefeller Plaza Suite 18C, New York, NY 10019. In addition, copies of the prospectus relating to the Offering may be obtained via the SEC's website at www.sec.gov.\nThis press release does not constitute an offer to sell, or the solicitation of an offer to buy any of the Company's securities, nor shall there be any offer, solicitation or sale of any of the Company's securities in any state ...