NIP Group Inc. Announces Pricing of $20.25 Million Initial Public Offering
July 25 2024 - 10:30PM
NIP Group Inc. (the “Company” or “NIP”), a leading esports
organization with the most expansive global footprint by virtue of
its operations across Asia, Europe and South America, today
announced the pricing of its initial public offering of 2,250,000
American depositary shares (“ADSs”), at US$9.00 per ADS, for a
total offering size of US$20.25 million, assuming the underwriters
do not exercise their option to purchase additional ADSs. Each ADS
represents two Class A ordinary shares of the Company. The ADSs
have been approved for listing and are expected to begin trading on
the Nasdaq Global Market on July 26, 2024, under the ticker symbol
“NIPG.” The offering is expected to close on July 29, 2024, subject
to customary closing conditions.
In addition, 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 337,500
additional ADSs.
US Tiger Securities, Inc. is acting as lead
underwriter and representative of the underwriters of the offering.
GF Securities (Hong Kong) Brokerage Limited, CLSA Limited and
Kingswood Capital Partners, LLC are acting as co-managers for 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 these securities, 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 US Tiger Securities, Inc.
at 437 Madison Avenue, 27th Floor, New York, New York 10022, or by
telephone at +1 646-978-5188.
About NIP Group Inc.
NIP Group Inc. is a leading esports organization
with the most expansive global footprint by virtue of its
operations across Asia, Europe and South America. Among the top ten
esports titles in the world in terms of prize pool, it wins in
tier-1 world tournaments in CS:GO, Honor of Kings, Rainbow Six and
FIFA represent more unique game titles with top-tier wins than any
other esports organization as of January 31, 2023. NIP Group Inc.
was founded based on a passion for esports and belief that esports
can create the same types of historical and legendary experiences
and memories as traditional sports have for the past century.
NIP Group Inc. operates two esports brands:
Ninjas in Pyjamas and eStar Gaming. Ninjas in Pyjamas, its
PC/console esports brand, was founded in 2000 in Sweden, while
eStar Gaming, its mobile esports brand, was founded in 2014 in
China. Competing at the highest levels in multiple esports titles
over two decades, Ninjas in Pyjamas has earned recognition as one
of the most storied, recognized and iconic brands in the esports
world. At the same time, eStar Gaming, its mobile esports brand, is
the top team in the Honor of Kings King Pro League (KPL), one of
the most successful teams in KPL history in terms of titles and
widely considered to be the most successful mobile esports team in
the world. NIP Group Inc. has a comprehensive portfolio of esports
teams, competing at the highest level in video game titles such as
League of Legends, CS: GO, Honor of Kings, Rainbow Six, Rocket
League, Fortnite and Call of Duty Mobile.
Cautionary Note Concerning
Forward-Looking Statements
This press release contains statements that
constitute “forward-looking statements,” including with respect to
the proposed initial public offering and the anticipated use of the
net proceeds. No assurance can be given that the offering discussed
above will be completed on the terms described, or at all, or that
the net proceeds of the offering will be used as indicated.
Forward-looking statements are subject to numerous conditions, many
of which are beyond the control of the Company, including those set
forth in the Risk Factors section of the Company's registration
statement and preliminary prospectus for the Company's offering
filed with the Securities and Exchange Commission. Copies are
available on the SEC's website, www.sec.gov. The Company undertakes
no obligation to update these statements for revisions or changes
after the date of this release, except as required by law.
For investor and media inquiries, please
contact:
NIP Group Inc.
Investor Relations
Tel: +46 8133700
Email: IR@nipgroup.gg
ICR, LLC
Robin Yang
Tel: +1 (212) 537-3847
Email: ICR-TMT@icrinc.com