Li Auto Inc. (“Li Auto” or the “Company”) (Nasdaq: LI), an
innovator in China's new energy vehicle market, today announced the
pricing of its initial public offering of 95,000,000 American
depositary shares (“ADSs”), each representing two Class A ordinary
shares of the Company, at a price to the public of US$11.50 per
ADS. The ADSs are expected to begin trading on the Nasdaq Global
Select Market today under the symbol "LI." The offering is expected
to close on August 3, 2020, subject to customary closing
conditions.
The Company has granted the underwriters an
option, exercisable within 30 days from the date of the final
prospectus, to purchase up to an aggregate of 14,250,000 additional
ADSs.
Concurrently with, and subject to, the
completion of this offering, certain existing shareholders have
agreed to purchase US$380.0 million in Class A ordinary shares from
the Company through private placements pursuant to an exemption
from registration with the United States Securities and Exchange
Commission (the “SEC”) under Regulation S of the Securities Act of
1933, as amended. The Company raised total gross proceeds of
US$1.47 billion in the initial public offering and the concurrent
private placements, assuming the underwriters of the initial public
offering do not exercise their option to purchase additional
ADSs.
Goldman Sachs (Asia) L.L.C., Morgan Stanley
& Co. LLC, UBS Securities LLC, and China International Capital
Corporation Hong Kong Securities Limited, are acting as joint
bookrunners of this offering.
A registration statement related to these
securities (other than those in the concurrent private placements)
has been filed with, and declared effective by, the SEC. This press
release shall not constitute an offer to sell or a solicitation of
an offer to buy, 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.
This offering is being made only by means of a
prospectus forming part of the effective registration statement. A
copy of the final prospectus relating to the offering may be
obtained, when available, by contacting at the following
underwriters: (i) Goldman Sachs & Co. LLC, Attention:
Prospectus Department, 200 West Street, New York, NY 10282-2198,
United States, or by calling +1-212-902-1171, or by email at
prospectus-ny@ny.email.gs.com; (ii) Morgan Stanley & Co. LLC,
Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New
York, NY 10014, United States, or by calling +1-917-606-8487, or by
email at prospectus@morganstanley.com; (iii) UBS Securities LLC,
Attention: Prospectus Department, 1285 Avenue of the Americas, New
York, NY 10019, United States, or by calling +1-888-827-7275, or by
email at olprospectusrequest@ubs.com; and (iv) China International
Capital Corporation Hong Kong Securities Limited, 29th Floor, One
International Finance Centre, 1 Harbour View Street, Central, Hong
Kong, by telephone at +852-2872-2000, or via email:
g_prospectus@cicc.com.cn.
About Li Auto Inc.
Li Auto Inc. is an innovator in China's new
energy vehicle market. The Company designs, develops, manufactures,
and sells premium smart electric SUVs. Through innovative products,
technology, and business model, the Company provides customers with
safe, convenient, and cost-effective mobility solutions. Li Auto is
the first to successfully commercialize extended-range electric
vehicles in China. The Company started volume production of its
first model, Li ONE, in November 2019. With Li ONE, the Company
leverages its in-house technology to create value for our
customers, focusing on range extension, smart technology, and
autonomous driving solutions. Beyond Li ONE, the Company aims to
expand its product line by developing new vehicles to target a
broader consumer base.
For more information, please visit:
http://ir.lixiang.com.
Safe Harbor Statement
This press release contains statements that may
constitute “forward-looking” statements pursuant to 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 “will,” “expects,” “anticipates,” “aims,”
“future,” “intends,” “plans,” “believes,” “estimates,” “likely to,”
and similar statements. Statements that are not historical facts,
including statements about Li Auto’s beliefs, plans, and
expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties. Further
information regarding these and other risks is included in Li
Auto’s filings with the SEC. All information provided in this press
release is as of the date of this press release, and Li Auto does
not undertake any obligation to update any forward-looking
statement, except as required under applicable law.
For investor and media inquiries, please
contact:
Li Auto Inc.Investor RelationsEmail:
ir@lixiang.com
The Piacente Group, Inc.Ross WarnerTel:
+86-10-6508-0677Email: Li@tpg-ir.com
Brandi PiacenteTel: +1-212-481-2050Email:
Li@tpg-ir.com
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