UP Fintech Announces Closing of Follow-on Public Offering of American Depositary Shares
October 24 2024 - 3:00PM
UP Fintech Holding Limited (Nasdaq: TIGR) (“UP Fintech” or the
“Company”), a leading online brokerage firm focusing on global
investors, today announced the closing of its 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 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 Company expects to use the net proceeds 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. acted as the joint bookrunners for the
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 has been filed
with the SEC and is available on the SEC’s website at:
http://www.sec.gov. 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 Contact UP
Fintech Holding Limited Email: ir@itiger.com
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