Agora Announces Pricing of Initial Public Offering

Rhea-AI Summary

Agora, Inc. has priced its initial public offering (IPO) at $20.00 per American depositary share (ADS), representing four Class A ordinary shares. The offering includes 17,500,000 ADSs, with an underwriter option for an additional 2,625,000 ADSs. Trading on the Nasdaq under the ticker symbol API is set to commence on June 26, 2020, and the offering is expected to close on June 30, 2020, pending customary conditions. Morgan Stanley and BofA Securities are the lead managers for this offering.

Positive

• The IPO pricing of $20.00 per ADS indicates strong investor interest in Agora.
• The offering size of 17,500,000 ADSs, with an option for 2,625,000 additional shares, may provide substantial capital for growth.

Negative

• Potential dilution of existing shares due to the large volume of ADSs offered.
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SANTA CLARA, Calif., June 25, 2020 /PRNewswire/ -- Agora, Inc. ("Agora"), a real-time engagement API provider, today announced the pricing of its initial public offering of 17,500,000 American depositary shares ("ADSs"), each representing four Class A ordinary shares of Agora, at a price to the public of $20.00 per ADS. Agora has granted the underwriters a 30-day option to purchase up to an additional 2,625,000 ADSs to cover overallotments. The ADSs are expected to begin trading on the Nasdaq Global Select Market on June 26, 2020 under the ticker symbol "API." The offering is expected to close on June 30, 2020, subject to customary closing conditions.

Morgan Stanley and BofA Securities are acting as the lead bookrunning managers for the offering. Needham & Company is acting as co-manager for the offering.

The offering is being made only by means of a prospectus. Copies of the prospectus, when available, 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 and was declared effective on June 25, 2020. 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

FAQ

What is the IPO price of Agora's stock symbol API?

Agora's IPO price is set at $20.00 per American depositary share (ADS).

When will Agora's shares start trading?

Agora's shares are expected to begin trading on the Nasdaq on June 26, 2020.

How many ADSs is Agora offering in its IPO?

Agora is offering 17,500,000 American depositary shares (ADSs) in its IPO.

What is the expected closing date of Agora's IPO?

The offering is expected to close on June 30, 2020, subject to customary conditions.