HONG KONG, Dec. 21, 2020 /PRNewswire/ -- Lion Group Holding
Ltd. ("Lion" or "the Company") (NASDAQ: LGHL), an operator of an
all-in-one trading platform that offers a wide spectrum of products
and services with a focus on Chinese investors, today announced it
has successfully executed a binding funding agreement to raise
$10 million through a private
placement share subscription agreement ("Share Subscription
Agreement") in the Company. The financing will be led by Yun Tian
Investment Limited ("Yun Tian"),
through a company incorporated in Hong
Kong which is funded by a group of reputable and wealthy
private entrepreneurs from South
China.
Lion expects to use the proceeds from the Share Subscription
Agreement to develop, among others, its total return swap trading
business in which the parties shall co-operate with each other.
Pursuant to the Share Subscription Agreement, in addition to the
capital contribution of $10 million,
Yun Tian shall dispatch a team of
talents in the areas of finance, technology, marketing etc. to
assist in Lion's total return swap trading business and other
relevant businesses. Both parties will commence the business
cooperation upon the execution of Share Subscription Agreement.
"We are excited to announce that this agreement marks another
milestone for the growth of Lion and represents an important step
in our business expansion. In addition to finance, Yun Tian will offer professional expertise and
industry experience to further advance our development. With both
capital injection and talents support, we are confident in the
growth of our total return swap trading business," said Mr.
Chunning (Wilson) Wang, CEO of Lion.
"As we continue to pursue regional expansion and business growth,
Lion remains committed to delivering our services to customers and
developing more innovative products to satisfy our clients'
needs."
The Company will file a Form 6-K containing the Share
Subscription Agreement which investors may access on the SEC
Filings page on the U.S. Securities and Exchange Commission website
at www.sec.gov.
About Lion
Lion Group Holding Ltd. (NASDAQ: LGHL) operates an all-in-one
trading platform that offers a wide spectrum of products and
services with a focus on Chinese investors. Through its
state-of-the-art technology, Lion offers contract-for-difference
(CFD) trading, insurance brokerage, futures brokerage, and
securities brokerage on its platform, which can be accessed through
applications available on the iOS, Android, Windows, and macOS
systems. Lion's customers are well-educated and affluent Chinese
individual investors residing both inside and outside the PRC as
well as institutional clients in Hong
Kong. Additional information may be found at
http://ir.liongrouphl.com.
Forward-Looking Statements
This press release contains, "forward-looking statements" within
the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995. Lion's actual results may
differ from their expectations, estimates and projections and
consequently, you should not rely on these forward-looking
statements as predictions of future events. Words such as "expect,"
"estimate," "project," "budget," "forecast," "anticipate,"
"intend," "plan," "may," "will," "could," "should," "believes,"
"predicts," "potential," "might" and "continues," and similar
expressions are intended to identify such forward-looking
statements. These forward-looking statements include, without
limitation, Lion's expectations with respect to future performance
and anticipated financial impacts of the Business combination, the
satisfaction of the closing conditions to the business combination
and the timing of the completion of the business combination. These
forward-looking statements involve significant risks and
uncertainties that could cause actual results to differ materially
from expected results. Most of these factors are outside the
control of Lion and are difficult to predict. Factors that may
cause such differences include, but are not limited to: (1) the
inability to maintain the listing of the post-acquisition company's
ADSs on NASDAQ following the business combination; (2) the risk
that the business combination disrupts current plans and operations
as a result of the announcement and consummation of the
transactions described herein; (3) the inability to recognize the
anticipated benefits of the business combination, which may be
affected by, among other things, competition, the ability of the
combined company to grow and manage growth profitably and retain
its key employees; (4) costs related to the business combination;
(5) changes in applicable laws or regulations; (6) the possibility
that Lion may be adversely affected by other economic, business,
and/or competitive factors; and (7) other risks and uncertainties
to be identified in the proxy statement/prospectus relating to the
business combination, including those under "Risk Factors" therein,
and in other filings with the Securities and Exchange Commission
("SEC") made by Lion. Lion cautions that the foregoing list of
factors is not exclusive. Lion cautions readers not to place undue
reliance upon any forward-looking statements, which speak only as
of the date made. Lion does not undertake or accept any obligation
or undertaking to release publicly any updates or revisions to any
forward-looking statements to reflect any change in its
expectations or any change in events, conditions or circumstances
on which any such statement is based, subject to applicable
law.
Contacts
Lion Group Holding
Tel: +852 2820 9011
Email: ir@liongrouphl.com
ICR, LLC
William Zima
Tel: +1 203 682 8233
Email: ir@liongrouphl.com
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SOURCE Lion Group Holding Ltd.