UP Fintech Announces Closing of Follow-on Public Offering of American Depositary Shares and Full Exercise of Over-allotment O...
June 11 2021 - 04:00AM
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
6,500,000 American Depositary Shares (“ADSs”), each representing 15
Class A ordinary shares of the Company, at a public offering price
of US$24.50 per ADS. The Company granted the underwriters a 30-day
option to purchase up to an aggregate of 975,000 additional ADSs
from the Company at the public offering price. The underwriters
fully exercised their option to purchase these additional ADSs.
The Company expects to use the net proceeds from the 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 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 www.sec.gov, which automatically became
effective upon filing. 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 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 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 ContactClark S. SoucyUP
Fintech Holding LimitedEmail: ir@itiger.com
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