SINGAPORE, March 5, 2019 /PRNewswire/ -- Sea Limited (NYSE:
SE) ("Sea" or the "Company") today announced the pricing of
60,000,000 American Depositary Shares ("ADS"), each representing
one Class A ordinary share of the Company, at US$22.50 per ADS in an underwritten public
offering. All of the ADSs to be sold in the offering were offered
by Sea. Sea has granted the underwriters a 30-day option to
purchase up to an additional 9,000,000 ADSs on the same terms and
conditions. This offering is expected to close on or about
March 8, 2019, subject to customary
closing conditions.
An entity affiliated with Tencent
Holdings Limited, one of Sea's principal shareholders, and an
entity affiliated with one of the Company's directors are expected
to purchase an aggregate of 6,300,000 ADSs in this offering at the
public offering price and on the same terms as the other ADSs being
offered.
The Company expects to use the net proceeds from this offering
for business expansion and other general corporate purposes.
Goldman Sachs (Asia) L.L.C. and
Morgan Stanley & Co. LLC are acting as joint bookrunners and
China International Capital Corporation Hong Kong Securities
Limited is acting as a co-manager for the offering.
The offering is being made pursuant to a shelf registration
statement on Form F-3ASR, which became automatically effective upon
filing with the U.S. Securities and Exchange Commission ("SEC") on
March 1, 2019. A preliminary
prospectus supplement related to the offering of ADSs has been
filed with the SEC. The registration statement on Form F-3ASR and
the preliminary prospectus supplement are available at the SEC
website at: http://www.sec.gov. Copies of the final prospectus
supplement, when available, and the accompanying prospectus may be
obtained from Goldman Sachs & Co. LLC, 200 West Street,
New York, NY 10282-2198, Attn:
Prospectus Department, by telephone at 212-902-1171, or Morgan
Stanley & Co. LLC, 180 Varick Street, New York, NY, 10014, Attn: Prospectus
Department, by telephone at 1-866-718-1649, or by e-mail
at prospectus@morganstanley.com.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy any securities, nor shall there be
any 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.
For further information, please contact:
Investors / analysts: ir@seagroup.com
Media: media@seagroup.com
About Sea Limited
Sea's mission is to better the lives of the consumers and small
businesses of our region with technology. Our region includes the
key markets of Indonesia,
Taiwan, Vietnam, Thailand, the
Philippines, Malaysia and
Singapore. Sea operates three
platforms across digital entertainment, e-commerce, and digital
financial services, known as Garena, Shopee, and AirPay,
respectively.
Safe Harbor Statement
This announcement contains forward-looking statements within the
meaning of Section 27A of the Securities Act, and Section 21E of
the Securities Exchange Act of 1934, as amended. 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," "will,"
"expect," "anticipate," "future," "intend," "plan," "believe,"
"estimate," "is/are likely to," "confident" or other similar
statements. Sea may also make written or oral forward-looking
statements in its periodic reports to the U.S. Securities and
Exchange Commission, 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. All
information provided in this press release is as of the date of the
issuance, and the Company assumes no obligation to update the
forward-looking statements in this press release and elsewhere
except as required under applicable law. 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. Further information
regarding these and other risks is included in Sea's annual report
on Form 20-F for the fiscal year ended December 31, 2018 and other filings with the
Securities and Exchange Commission.
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SOURCE Sea Limited