Luckin Coffee Announces Withdrawal of its Request for Nasdaq Hearing
June 26 2020 - 9:00AM
Luckin Coffee Inc. (the “Company”) (NASDAQ: LK) today announced the
following:
As previously disclosed, the Company received two written
notices (the “Notices”) from the Listing Qualifications Staff (the
“Listing Qualifications Staff”) of The Nasdaq Stock Market LLC
(“Nasdaq”), indicating the grounds of its decision to delist the
Company’s securities from Nasdaq.
On May 22, 2020, the Company requested an oral hearing before
the Nasdaq Hearings Panel pursuant to Market Place Rule 4820. On
May 23, 2020, Nasdaq informed the Company of the scheduled hearing
date of June 25, 2020.
On June 24, 2020, the Company notified the Listing
Qualifications Staff of the Company’s decision to withdraw its
request for the aforementioned hearing and not to seek to reverse
or stay the Listing Qualification Staff’s determination of
delisting the Company from the Nasdaq Global Select Market. As a
result, the Office of General Counsel of Nasdaq has notified the
Company that the Company’s shares will be suspended at the open of
business on June 29, 2020, and Nasdaq will file a Form 25
Notification of Delisting when all appeal periods have expired.
Safe Harbor Statement
This announcement contains forward-looking statements within the
meaning of Section 21E of the Securities Exchange Act of 1934,
as amended. These forward-looking statements are made under the
“safe harbor” provisions of the U.S. Private Securities Litigation
Reform Act of 1995. These statements can be identified by
terminology such as “will,” “expects,” “anticipates,” “future,”
“intends,” “plans,” “believes,” “estimates,” “potential,”
“continue,” “ongoing,” “targets,” “guidance” and similar
statements. The Company may also make written or oral
forward-looking statements in its periodic reports to the U.S.
Securities and Exchange Commission (the “SEC”), 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. Any 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 growth strategies; its
future business development, results of operations and financial
condition; its ability to understand buyer needs and provide
products and services to attract and retain buyers; its ability to
maintain and enhance the recognition and reputation of its brand;
its ability to rely on merchants and third-party logistics service
providers to provide delivery services to buyers; its ability to
maintain and improve quality control policies and measures; its
ability to establish and maintain relationships with merchants;
trends and competition in China’s e-commerce market; changes in its
revenues and certain cost or expense items; the expected growth of
China’s e-commerce market; PRC governmental policies and
regulations relating to the Company’s industry, and general
economic and business conditions globally and in China and
assumptions underlying or related to any of the foregoing. Further
information regarding these and other risks, uncertainties or
factors is included in the Company’s filings with the SEC. 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.
About Luckin Coffee Inc.
Luckin Coffee Inc. (NASDAQ: LK) has pioneered a
technology-driven retail network to provide coffee and other
products of high quality, high affordability, and high convenience
to customers. Empowered by big data analytics, AI, and proprietary
technologies, the Company pursues its mission to be part of
everyone’s everyday life, starting with coffee. The Company was
founded in 2017 and is based in China. For more information,
please visit investor.luckincoffee.com.
Investor and Media Contacts
Investor Relations:Luckin Coffee Inc.
IREmail: ir@luckincoffee.com
Bill Zima / Fitzhugh TaylorICR, Inc.Phone: 646 880 9039
Media Relations:Luckin Coffee Inc.
PREmail: pr@luckincoffee.com
Ed Trissel / Jack KelleherJoele Frank, Wilkinson
Brimmer KatcherPhone: 212 355 4449
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