UP Fintech Announces Pricing of Follow-on Public Offering of American Depositary Shares
October 23 2024 - 6:19AM
UP Fintech Holding Limited (Nasdaq: TIGR) (“UP Fintech” or the
“Company”), a leading online brokerage firm focusing on global
investors, today announced the pricing of a public offering of
15,000,000 American Depositary Shares (“ADSs”), each representing
15 Class A ordinary shares of the Company, at a public offering
price of US$6.25 per ADS. The underwriters will have an option to
purchase up to an aggregate of 2,250,000 additional ADSs from the
Company at the public offering price, less underwriting discounts
and commissions, exercisable within 20 days from the date of the
prospectus supplement.
The ADS offering is expected to close on October 24, 2024,
subject to customary closing conditions.
The Company expects to use the net proceeds of approximately
US$90.0 million from the ADS offering for strengthening the
Company’s capital base and furthering the Company’s business
development initiatives.
Deutsche Bank AG, Hong Kong Branch, China International Capital
Corporation Hong Kong Securities Limited and US Tiger Securities,
Inc. are acting as the joint bookrunners for the proposed ADS
offering.
The ADS offering has been made pursuant to an automatic shelf
registration statement on Form F-3 filed with the United States
Securities and Exchange Commission (the “SEC”) and is available on
the SEC’s website at http://www.sec.gov. The ADS offering has been
made only by means of a prospectus supplement and an accompanying
prospectus included in the Form F-3. The Form F-3 and the
prospectus supplement are available on the SEC’s website at
http://www.sec.gov. The final prospectus supplement will be filed
with the SEC and will be available on the SEC’s website at:
http://www.sec.gov. When available, copies of the final prospectus
supplement and the accompanying prospectus may be obtained by
contacting Deutsche Bank AG, Hong Kong Branch, Level 60,
International Commerce Centre, 1 Austin Road West, Kowloon, Hong
Kong; China International Capital Corporation Hong Kong Securities
Limited 29/F, One International Finance Centre, 1 Harbour View
Street, Central, Hong Kong; or, US Tiger Securities, Inc., 437
Madison Avenue, 27th Floor, New York, NY 10022, United States of
America.
This announcement shall not constitute an offer to sell, or a
solicitation of an offer to buy, the securities described herein,
nor shall there be any offer, solicitation or sale of these
securities in any state or jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About UP Fintech Holding Limited
UP Fintech Holding Limited is a leading online brokerage firm
focusing on global investors. The Company’s proprietary mobile and
online trading platform enables investors to trade in equities and
other financial instruments on multiple exchanges around the world.
The Company offers innovative products and services as well as a
superior user experience to customers through its “mobile first”
strategy, which enables it to better serve and retain current
customers as well as attract new ones. The Company offers customers
comprehensive brokerage and value-added services, including trade
order placement and execution, margin financing, IPO subscription,
ESOP management, investor education, community discussion and
customer support. The Company’s proprietary infrastructure and
advanced technology are able to support trades across multiple
currencies, multiple markets, multiple products, multiple execution
venues and multiple clearinghouses.
For more information on the Company, please visit:
https://ir.itigerup.com.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the “safe harbor” provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
“may,” “might,” “aim,” “likely to,” “will,” “expects,”
“anticipates,” “future,” “intends,” “plans,” “believes,”
“estimates” and similar statements or expressions. Among other
statements, the business outlook and quotations from management in
this announcement, the Company’s strategic and operational plans
and expectations regarding growth and expansion of its business
lines, and the Company’s plans for future financing of its business
contain forward-looking statements. The Company may also make
written or oral forward-looking statements in its periodic reports
to the U.S. Securities and Exchange Commission (“SEC”) on Forms
20−F and 6−K, in its annual report to shareholders, in press
releases and other written materials and in oral statements made by
its officers, directors or employees to third parties, including
the earnings conference call. Statements that are not historical
facts, including statements about the Company’s beliefs and
expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties. A number of
factors could cause actual results to differ materially from those
contained in any forward-looking statement, including but not
limited to the following: the Company’s ability to effectively
implement its growth strategies; trends and competition in global
financial markets; changes in the Company’s revenues and certain
cost or expense accounting policies; and governmental policies and
regulations affecting the Company’s industry and general economic
conditions in China, Singapore and other countries. Further
information regarding these and other risks is included in the
Company’s filings with the SEC, including the Company’s annual
report on Form 20-F filed with the SEC on April 22, 2024. All
information provided in this press release and in the attachments
is as of the date of this press release, and the Company undertakes
no obligation to update any forward-looking statement, except as
required under applicable law. Further information regarding these
and other risks is included in the Company’s filings with the
SEC.
For investor and media inquiries please
contact:
Investor Relations ContactUP Fintech Holding
LimitedEmail: ir@itiger.com
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