UP Fintech announces the closing of its follow-up public offer
BEIJING, China, June 11, 2021 (GLOBE NEWSWIRE) – UP Fintech Holding Limited (Nasdaq: TIGR) (“UP Fintech” or the “Company”), a leading online brokerage firm focused on global investors, has announced today the closing of its public offering of 6,500,000 American Depositary Shares (“ADS”), each representing 15 Class A common shares of the Company, at a public offering price of USD 24.50 per ADS. The Company has granted the underwriters a 30 day option to purchase up to a total of an additional 975,000 ADS from the Company at the public offering price. The Underwriters have fully exercised their option to purchase these additional ADSs.
The Company plans to use the net proceeds from the ADS offering to (i) expand its customer base and drive customer engagement with its services, (ii) invest in expanding its products, services and technologies to improve its user experience and operational efficiency, and (iii) expand its international presence.
Citigroup Global Markets Inc., Morgan Stanley & Co. LLC and Tiger Brokers (NZ) Limited acted as associate bookkeepers for the ADS offering.
The ADS offering was made pursuant to an automatic registration statement on Form F-3 filed with the United States Securities and Exchange Commission (the “SEC”) and is available on the SEC website at www.sec.gov, which automatically became effective upon filing. The ADS offer was made only by way of a prospectus supplement and accompanying prospectus included in Form F-3. Form F-3 and the prospectus supplement are available on the SEC’s website at www.sec.gov. The Final Prospectus Supplement has been filed with the SEC and is available on the SEC’s website at: http://www.sec.gov. Copies of the Final Prospectus Supplement and accompanying prospectus can be obtained by contacting Citigroup Global Markets Inc., Broadridge, 1155 Long Island Avenue, Bays 4-9, Edgewood, NY 11717, Attention: Prospectus Department (phone: + 1-800- 831-9146), or Morgan Stanley & Co. LLC, Prospectus Department, 2nd Floor, 180 Varick Street, New York, NY 10014, United States of America, Attention: Prospectus Department (phone: 1-917-606 -8487).
This announcement does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein, and there will be no offer, solicitation or sale of such securities in any state or jurisdiction in which such offering, soliciting or selling would be illegal prior to registration or qualification under the securities laws of any such state or jurisdiction.
About UP Fintech Holding Limited
UP Fintech Holding Limited is a leading online brokerage firm focused on global investors. The Company’s proprietary mobile and online trading platform enables investors to trade stocks and other financial instruments on multiple stock exchanges across the world. The Company offers innovative products and services as well as a superior user experience to customers through its “mobile first” strategy, which enables it to better serve and retain existing customers as well as attract new ones. The Company offers its clients comprehensive brokerage and value-added services, including trade order placement and execution, margin financing, IPO subscription, ESOP management, education investors, community discussion and customer support. The Company’s proprietary infrastructure and state-of-the-art technology are capable of supporting transactions across multiple currencies, multiple markets, multiple products, multiple venues and multiple clearing houses.
For more information about the Company, please visit: https://ir.itiger.com.
Safe Harbor Declaration
This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by words such as “may”, “could”, “aim”, ” “Will”, “expects”, “anticipates”, “the future”, “intends”, “plans”, “believes”, “believes” and similar statements or expressions. Among other statements, the business outlook and management quotes in this announcement, as well as the Company’s strategic and operational plans, contain forward-looking statements. The Company may also make written or oral forward-looking statements in its periodic reports to the United States Securities and Exchange Commission (“SEC”) on Forms 20-F and 6-K, in its annual report to shareholders, in press releases and other written materials and oral statements made by its officers, directors or employees to third parties, including the results conference call. 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: cooperation with Interactive Brokers LLC and Xiaomi Corporation and its affiliates; the Company’s growth strategies; trends and competition in global financial markets; changes in the Company’s revenues and certain cost or expense accounting policies; the effects of the global COVID-19 pandemic; and government policies relating to the Company’s industry and general economic conditions in China and other countries. Further information regarding these and other risks is included in documents filed by the Company with the SEC, including the Company’s annual report on Form 20-F filed with the SEC on April 28, 2021. All the information provided in this press release and in the attachments is as of the date of this press release, and the Company does not undertake to update any forward-looking statement, except as required by applicable law. Further information regarding these and other risks is included in the Company’s filings with the SEC.
For investor and media inquiries, please contact:
Investor Relations Contact
Clark S. Soucy
UP Fintech Holding Limited
Email: [email protected]