Luckin Coffee Inc. Announces Pricing of Initial Public Offering
May 17 2019 - 2:20AM
Luckin Coffee Inc. (the “Company”) (NASDAQ: LK), today announced
the pricing of its initial public offering of 33,000,000 American
Depositary Shares (“ADSs”), each representing eight Class A
ordinary shares of the Company, assuming the underwriters do not
exercise their option to purchase additional ADSs, at US$17.00 per
ADS. The ADSs will begin trading today on the Nasdaq Global Select
Market under the ticker symbol “LK.”
The Company has granted to the underwriters an
option, exercisable within 30 days from the date of the final
prospectus, to purchase up to an aggregate of 4,950,000 additional
ADSs. The total net proceeds of the offering and the concurrent
private placement to Louis Dreyfus Company B.V. are expected to be
approximately US$571.2 million if the underwriters do not exercise
their option and approximately US$650.8 million if the underwriters
exercise their option to purchase additional ADSs in full.
Credit Suisse Securities (USA) LLC, Morgan
Stanley & Co. LLC, China International Capital Corporation Hong
Kong Securities Limited and Haitong International Securities
Company Limited are acting as bookrunners of this offering. KeyBanc
Capital Markets Inc. and Needham & Company, LLC are acting as
co-managers.
A registration statement related to the offering
has been filed with the U.S. Securities and Exchange Commission
(the “SEC”) and declared effective. This press release does not
constitute an offer to sell or a solicitation of an offer to buy
the securities described herein, 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.
The offering is being made only by means of a
prospectus forming a part of the effective registration statement.
Copies of the prospectus related to the offering may be obtained by
calling the following numbers: (1) Credit Suisse Securities (USA)
LLC at +1-800-221-1037, (2) Morgan Stanley & Co. LLC at
+1-866-718-1649, (3) China International Capital Corporation Hong
Kong Securities Limited at +852-2872-2000, and (4) Haitong
International Securities Company Limited at +852-2848-4333.
About Luckin Coffee Inc.Luckin
Coffee Inc. (NASDAQ: LK) has pioneered a technology-driven new
retail model to provide coffee and other products of high quality,
high affordability, and high convenience to the 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
www.luckincoffee.com.
Investor Relations
ContactLuckin Coffee Inc. IREmail: ir@luckincoffee.com
Bill ZimaICR, Inc.Phone: 203 682 8200
Media Relations ContactLuckin
Coffee Inc. PREmail: pr@luckincoffee.com
Ed Trissel / Scott Bisang / Amy FengJoele Frank,
Wilkinson Brimmer KatcherPhone: 212 355 4449
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