Xiao-I Announces Pricing of Initial Public Offering
March 09 2023 - 2:26AM
Xiao-I Corporation (“Xiao-I” or the “Company”), a leading cognitive
artificial intelligence enterprise in China, today announced the
pricing of its initial public offering of 5,700,000 American
Depositary Shares ("ADSs"), each representing one-third of an
ordinary share of the Company, at a public offering price of US$6.8
per ADS. The ADSs are expected to begin trading on the Nasdaq
Global Market under the ticker symbol "AIXI" on March 9, 2023. The
offering is expected to close on March 13, 2023, subject to
customary closing conditions.
Prime Number Capital LLC is acting as sole
global coordinator, lead left underwriter and lead book-running
manager for the offering. Guotai Junan Securities (Hong Kong)
Limited is acting as joint underwriter for the offering. SBI China
Capital Financial Services Limited and AC Sunshine Securities LLC
are acting as co-managers. Squire Patton Boggs (US) LLP is
acting as counsel to the Company, and Robinson & Cole LLP is
acting as counsel to Prime Number Capital LLC. Jingtian &
Gongcheng is acting as PRC counsel to the Company.
The Company has granted the underwriters an
option during the 45-day period of the offering to purchase up to
855,000 additional ADSs at the initial public offering price. The
total proceeds from the offering are expected to be approximately
US$38.76 million (or US$44.57 million if the underwriters exercise
their option to purchase additional ADSs in full.)
The offering is being made only by means of a
final prospectus. Copies of the final prospectus related to the
offering may be obtained, when available, from Prime Number Capital
LLC by email at info@pncps.com.
A registration statement related to the offering
has been filed with the U.S. Securities and Exchange Commission and
declared effective March 8, 2023. This press release shall not
constitute an offer to sell or the 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 offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Xiao-I CorporationXiao-I
Corporation is a leading cognitive intelligence enterprise in China
that offers a diverse range of business solutions and services in
artificial intelligence, covering natural language processing,
voice and image recognition, machine learning and affective
computing. Since its inception in 2001, the Company has developed
an extensive portfolio of cognitive intelligence technologies that
are highly suitable and have been applied to a wide variety of
business cases. Xiao-I powers its cognitive intelligence products
and services with its cutting-edge, proprietary AI technologies to
enable and promote industrial digitization, intelligent upgrading,
and transformation.
Forward-Looking
StatementsCertain statements in this announcement are
forward-looking statements. These forward-looking statements
involve known and unknown risks and uncertainties and are based on
the Company’s current expectations and projections about future
events that the Company believes may affect its financial
condition, results of operations, business strategy and financial
needs. Investors can identify these forward-looking statements by
words or phrases such as “approximates,” “assesses,”
“believes,” “hopes,” “expects,” “anticipates,” “estimates,”
“projects,” “intends,” “plans,” “will,” “would,” “should,” “could,”
“may” or similar expressions. The Company undertakes no obligation
to update or revise publicly any forward-looking statements to
reflect subsequent occurring events or circumstances, or changes in
its expectations, except as may be required by law. Although the
Company believes that the expectations expressed in these
forward-looking statements are reasonable, it cannot assure you
that such expectations will turn out to be correct, and the Company
cautions investors that actual results may differ materially from
the anticipated results and encourages investors to review other
factors that may affect its future results in the Company’s
registration statement and other filings with the SEC.
For investor and media inquiries, please
contact:The Blueshirt GroupMs. Feifei ShenPhone: +86
134-6656-6136Email: feifei@blueshirtgroup.com
Mr. Jack WangPhone: +86 166-0115-0429Email:
jack@blueshirtgroup.com
Ms. Miranda
Tian Phone: +86
135-2551-1189Email: miranda@blueshirtgroup.com
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