Business
Lichen China Limited Announces Pricing of US$16 Million Initial Public Offering
JINJIANG, China, Feb. 6, 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. 6, 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 have been approved for listing on the Nasdaq Capital Market and are expected to commence trading on February 6, 2023 under the ticker symbol \"LICN.\"\nThe Company expects to receive 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. The Offering is expected to close on or about February 8, 2023, subject to the satisfaction of customary closing conditions.\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 is being conducted on a firm commitment basis. Univest Securities, LLC is acting as the underwriter and book-running manager for the Offering. Ortoli Rosenstadt LLP is acting as U.S. counsel to the Company, and Hunter Fischer Taubman & Li LLC is 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 is being made only by means of a prospectus, forming a part of the registration statement. Copies of the prospectus relating to the Offering, when available, 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.\nBefore you invest, you sho...