UP Fintech announces pricing of ADS public offering
UP Fintech Holding Limited (NASDAQ:TIGR), also known as Tiger Brokers, today announced the pricing of a public offering of 6,500,000 American Depositary Shares (ADSs), each representing 15 Class A ordinary shares of the company, at a public offering price of US$24.50 per ADS. The underwriters will have a 30-day option to purchase up to an aggregate of 975,000 additional ADSs from the company.
The ADS offering is expected to close on June 11, 2021, subject to customary closing conditions.
The company expects 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 enhance its user experience and operating efficiency, and (iii) expand its international presence.
Citigroup Global Markets Inc., Morgan Stanley & Co. LLC and Tiger Brokers (NZ) Limited are acting as the joint bookrunners for the ADS offering.