On October 23, 2024, UP Fintech Holding Limited announced the pricing of its public offering of 15,000,000 American Depositary Shares (ADSs) at US$6.25 per ADS. Each ADS represents 15 Class A ordinary shares of the company. The underwriters retain an option to purchase up to an additional 2,250,000 ADSs within 20 days.
The company anticipates receiving approximately US$90.0 million in net proceeds from this ADS offering. These funds are earmarked for strengthening UP Fintech's capital base and advancing its business development initiatives. The offering is expected to close on October 24, 2024, subject to customary closing conditions.
This financing event is a significant step for UP Fintech, providing capital to fuel its strategic growth. Deutsche Bank AG, Hong Kong Branch, China International Capital Corporation Hong Kong Securities Limited, and US Tiger Securities, Inc. are serving as joint bookrunners for the offering.
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