UP Fintech prices 15M ADSs at $6.25 in follow-on public offering

UP Fintech (TIGR) Holding announced the pricing of a public offering of 15,000,000 American Depositary Shares, each representing 15 Class A ordinary shares of the Company, at a public offering price of $6.25 per ADS. The underwriters will have an option to purchase up to an aggregate of 2,250,000 additional ADSs from the Company at the public offering price, less underwriting discounts and commissions, exercisable within 20 days from the date of the prospectus supplement. The ADS offering is expected to close on October 24, 2024, subject to customary closing conditions. The Company expects to use the net proceeds of approximately $90.0 million from the ADS offering for strengthening the Company’s capital base and furthering the Company’s business development initiatives. Deutsche Bank AG, Hong Kong Branch, China International Capital Corporation Hong Kong Securities Limited and US Tiger Securities, Inc. are acting as the joint bookrunners for the proposed ADS offering.