UP Fintech Announces Proposed Follow-on Public Offering of American Depositary Shares
June 07 2021 - 4:12PM
UP Fintech Holding Limited (Nasdaq: TIGR) (“UP Fintech” or the
“Company”), a leading online brokerage firm focusing on global
investors, today announced that it intends to offer and sell
6,500,000 American Depositary Shares (“ADSs”), each representing 15
Class A ordinary shares of the Company, subject to market and other
conditions, in an underwritten public offering. The underwriters
will have a 30-day option to purchase up to an aggregate of 975,000
additional ADSs from the Company.
The Company expects to use the net proceeds from the proposed
ADS offering to (i) expand its customer base and drive customer
engagement with its services, (ii) invest in expanding its
products, services and technologies to enhance its user experience
and operating efficiency, and (iii) expand its international
presence.
Citigroup Global Markets Inc., Morgan Stanley & Co. LLC and
Tiger Brokers (NZ) Limited will act as the joint bookrunners for
the proposed ADS offering.
The proposed ADS offering will be 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 www.sec.gov, which automatically
became effective upon filing. A preliminary prospectus supplement
and an accompanying prospectus related to the proposed ADS offering
have been filed with the SEC and are available on the SEC’s website
at 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 Citigroup Global Markets Inc., Broadridge, 1155 Long
Island Avenue, Bays 4-9, Edgewood, NY 11717, Attention: Prospectus
Department (telephone: +1-800-831-9146), or Morgan Stanley &
Co. LLC, Prospectus Department, 2nd Floor, 180 Varick Street, New
York, NY 10014, United States of America, Attention: Prospectus
Department (telephone: 1-917-606-8487).
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.itiger.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, as well as the Company’s strategic and
operational plans, 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
cooperation with Interactive Brokers LLC and Xiaomi Corporation and
its affiliates; the Company’s growth strategies; trends and
competition in global financial markets; changes in the Company’s
revenues and certain cost or expense accounting policies; the
effects of the global COVID-19 pandemic; and governmental policies
relating to the Company’s industry and general economic conditions
in China 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 28, 2021. 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
Clark S. SoucyUP Fintech Holding Limited Email:
ir@itiger.com
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