BEIJING, Jan. 28, 2021 /PRNewswire/ -- Ucommune
International Ltd. (NASDAQ: UK) ("Ucommune" or the "Company"), a
leading agile office space manager and provider in China, today announced the pricing of an
underwritten offering of 4,938,271 Class A ordinary shares (the
"Ordinary Shares") and warrants (the "Warrants") to purchase
4,938,271 Class A ordinary shares at a combined offering price of
US$4.05 for one Ordinary Share and
one Warrant to purchase one Ordinary Share. The Ordinary Shares and
the Warrants will be issued and sold to investors in a combination
of one Ordinary Share and one Warrant, and will be immediately
separated upon issuance. Each Warrant is immediately exercisable
for one Ordinary Share at an exercise price of US$4.05 per share and will expire five years from
Maxim Group LLC is acting as sole book-running manager in
connection with the offering.
The Company has granted the underwriter a 45-day option to
purchase up to an additional 740,740 Class A Ordinary Shares and/or
up to 740,740 Warrants to cover over-allotments, if any.
The offering is being conducted pursuant to the Company's
registration statement on Form F-1 (File No. 333-252271) previously
filed with and subsequently declared effective by the Securities
and Exchange Commission (the "SEC") on January 28, 2021. A final prospectus relating to
the offering will be filed with the SEC and will be available on
the SEC's website at http://www.sec.gov. Electronic copies of the
prospectus relating to this offering, when available, may be
obtained from Maxim Group LLC, 405 Lexington Avenue, 2nd Floor,
New York, NY 10174, at (212)
The Company plans to use the net proceeds from the offering
mainly for expansion of the Company's spaces and services
offerings, strengthening of the Company's technology capabilities,
and working capital and other general corporate purposes.
This press release shall not constitute an offer to sell or a
solicitation of an offer to purchase any securities, nor shall
there be a sale of the securities in any state or jurisdiction in
which such an offer, solicitation or sale would be unlawful.
This press release contains information about the pending
offering of the Ordinary Shares and the Warrants, and there can be
no assurance that the offering will be completed.
About Ucommune International, Ltd.
Ucommune is China's leading
agile office space manager and provider. Founded in 2015, Ucommune
has created a large-scale intelligent agile office ecosystem
covering economically vibrant regions throughout China to empower its members with flexible and
cost-efficient office space solutions. Ucommune's various offline
agile office space services include self-operated models, such as U
Space, U Studio, and U Design, as well as asset-light models, such
as U Brand and U Partner. By utilizing its expertise in the real
estate and retail industries, Ucommune operates its agile office
spaces with high efficiency and engages in the urban transformation
of older and under-utilized buildings to redefine commercial real
estate in China.
Safe Harbor Statement
This press release contains forward-looking statements within
the meaning of Section 21E of the Securities Exchange Act of 1934,
as amended. These forward-looking statements are made under the
"safe harbor" provisions of the U.S. Private Securities Litigation
Reform Act of 1995. These statements can be identified by
terminology such as "will," "expects," "anticipates," "future,"
"intends," "plans," "believes," "estimates," "potential,"
"continue," "ongoing," "targets," "guidance" and similar
statements. The Company may also make written or oral
forward-looking statements in its periodic reports to SEC, 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. Any 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, including but not
limited to the following: the Company's goals and growth
strategies; its future business development, results of operations
and financial condition; relevant governmental policies and
regulations relating to the Company's business and industry and
general economic and business conditions in China and globally and assumptions underlying
or related to any of the foregoing. Further information regarding
these and other risks, uncertainties or factors is included in the
Company's filings with the SEC. All information provided in this
press release and in the attachments is as of the date of this
press release, and the Company undertakes no obligation to update
any forward-looking statement, except as required under applicable
For further information, please contact:
Ucommune International Ltd.
+1 (212) 537-3847
SOURCE Ucommune International Ltd.