Agora Announces Launch of Initial Public Offering

Rhea-AI Summary

Agora has announced its initial public offering (IPO) of 17.5 million American depositary shares (ADSs), representing four Class A ordinary shares each, with a price range of $16.00 to $18.00 per ADS. An additional 2.625 million ADSs may be offered to underwriters to cover overallotments. The company seeks to list its ADSs on the Nasdaq under the ticker symbol API. Morgan Stanley and BofA Securities are the lead bookrunning managers for the offering. The registration statement is pending effectiveness with the SEC.

Positive

• Launch of IPO for 17.5 million ADSs at $16.00 to $18.00 per share.
• Potential to raise additional funds through overallotment option of 2.625 million ADSs.

Negative

• Pending SEC registration may delay trading of ADSs.
• Uncertain market conditions could impact the IPO pricing and demand.

SANTA CLARA, Calif., June 21, 2020 /PRNewswire/ -- Agora, Inc. ("Agora"), a real-time engagement API provider, today announced the launch of an initial public offering of 17,500,000 American depositary shares ("ADSs"), each representing four Class A ordinary shares of Agora. Agora also intends to grant the underwriters a 30-day option to purchase up to an additional 2,625,000 ADSs to cover overallotments. The initial public offering price is expected to be between $16.00 and $18.00 per ADS. Agora has applied to list its ADSs representing Class A ordinary shares on the Nasdaq Global Select Market under the ticker symbol "API."

Morgan Stanley and BofA Securities will act as the lead bookrunning managers for the proposed offering. Needham & Company will act as co-manager for the proposed offering.

The proposed offering will be made only by means of a prospectus. A copy of the preliminary prospectus may be obtained from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, via telephone: 1-917-606-8487, or via email: prospectus@morganstanley.com; or BofA Securities, Inc., Attention: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, via email at dg.prospectus_requests@bofa.com.

A registration statement on Form F-1 relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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SOURCE Agora, Inc.

FAQ

What is the purpose of Agora's IPO scheduled for June 21, 2020?

Agora's IPO aims to raise capital to enhance its growth and market presence.

How many ADSs is Agora offering in its IPO?

Agora is offering 17.5 million American depositary shares (ADSs) in its IPO.

What is the expected price range for Agora's ADSs?

The expected price range for Agora's ADSs is between $16.00 and $18.00.

Who are the lead managers for Agora's IPO?

Morgan Stanley and BofA Securities are the lead bookrunning managers for Agora's IPO.

What ticker symbol will Agora use for its ADSs on Nasdaq?

Agora will list its ADSs under the ticker symbol 'API' on the Nasdaq.