UCLOUDLINK GROUP INC. Announces Pricing of Initial Public Offering
June 10 2020 - 9:29AM
UCLOUDLINK GROUP INC. (“UCLOUDLINK” or the “Company”) (NASDAQ:
UCL), the world’s first and leading mobile data traffic sharing
marketplace, today announced that it has priced its initial public
offering of 2,010,000 American depositary shares (“ADSs”), at
US$18.00 per ADS for a total offering size of approximately US$36.2
million, assuming the underwriters do not exercise their
over-allotment option to purchase any additional ADSs. Each ADS
represents ten Class A ordinary shares of the Company. The ADSs are
expected to begin trading on the Nasdaq Global Market today under
the ticker symbol “UCL.”
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 301,500 additional
ADSs at the initial public offering price.
I-Bankers Securities, Inc. and Valuable Capital
Limited are acting as the joint bookrunners of the offering and
representatives of the underwriters. Tiger Brokers (NZ) Limited is
acting as co-manager of the offering.
A registration statement related to these
securities has been filed with, and declared effective by, the
United States Securities and Exchange Commission. 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: (1) I-Bankers Securities, Inc., Address: Suite 415,
535 5th Avenue, New York, NY 10017, United States of America, by
telephone at +1-214-687-0020 or by email: operations@ibsgroup.net;
(2) Valuable Capital Limited, Address: Room 2808, 28th Floor, China
Merchants Tower, Shun Tak Centre, 168-200 Connaught Road Central,
Hong Kong, by telephone at +852-2500-0341, or by email:
ecm@valuable.com.hk; (3) Tiger Brokers (NZ) Limited, Address: Level
16, 191 Queen Street, Auckland Central, New Zealand 1010, by
telephone at +64-93-938-128, or by email:
info_nz@tigerfintech.com.
About UCLOUDLINK GROUP INC.
uCloudlink is the world’s first and leading
mobile data traffic sharing marketplace, according to Frost &
Sullivan, pioneering the sharing economy business model for the
telecommunications industry. The Company’s products and services
deliver unique value propositions to mobile data users, handset and
smart-hardware companies, mobile virtual network operators (MVNOs)
and mobile network operators (MNOs). Leveraging its innovative
cloud SIM technology and architecture, the Company has redefined
the mobile data connectivity experience by allowing users to gain
access to mobile data traffic allowance shared by network operators
on its marketplace, all while providing reliable connectivity, high
speeds and competitive pricing.
For more information, please visit:
http://ir.ucloudlink.com
Forward Looking Statements
This press release contains statements of a
forward-looking nature. These statements are made under the “safe
harbor” provisions of the U.S. Private Securities Litigation Reform
Act of 1995. You can identify these forward-looking statements by
terminology such as “will,” “expects,” “anticipates,” “future,”
“intends,” “plans,” “believes,” “estimates” and similar statements.
The accuracy of these statements may be impacted by a number of
business risks and uncertainties that could cause actual results to
differ materially from those projected or anticipated, many of
which factors are beyond the Company’s control. All information
provided in this press release is as of the date of this press
release, and the Company does not undertake any obligation to
update this forward-looking information, except as required under
the applicable law.
For investor and media inquiries, please
contact:
In China:
UCLOUDLINK GROUP INC.Molly XieTel:
+852-2180-6111E-mail: ir@ucloudlink.com
The Piacente Group, Inc.Ross WarnerTel: +86 (10)
6508-0677E-mail: UCL@tpg-ir.com
In the United States:
The Piacente Group, Inc. Brandi
PiacenteTel: +1-212-481-2050E-mail: UCL@tpg-ir.com
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