iHuman Inc. Announces Pricing of Initial Public Offering
iHuman Inc. (NYSE: IH) priced its initial public offering of 7,000,000 American Depositary Shares (ADSs) at US$12.00 each, with trading commencing on the New York Stock Exchange on October 9, 2020. The offering is expected to close on October 14, 2020. If the underwriters do not exercise their over-allotment option, the total gross proceeds are estimated at US$84.0 million, increasing to US$96.6 million if fully exercised. Credit Suisse and Citigroup act as joint bookrunners.
- Total gross proceeds of US$84.0 million if no over-allotment option is exercised, US$96.6 million if fully exercised.
- Company is a leading edutainment provider with established market presence in China.
- Potential dilution of shares if underwriters exercise the over-allotment option.
BEIJING, Oct. 9, 2020 /PRNewswire/ -- iHuman Inc. (NYSE: IH) ("iHuman" or the "Company"), a leading childhood edutainment company in China, announced today the pricing of its initial public offering of 7,000,000 American Depositary Shares ("ADSs"), each representing five class A ordinary shares of the Company, at a public offering price of US
The Company has granted the underwriters an option, exercisable within 30 days from the date of the final prospectus, to purchase up to an aggregate of 1,050,000 additional ADSs. The total gross proceeds of the offering, before deducting underwriting discounts and commissions and offering expenses payable by iHuman, are expected to be US
Credit Suisse Securities (USA) LLC and Citigroup Global Markets Inc. are acting as joint bookrunners and underwriter representatives for the offering. Tiger Brokers (NZ) Limited is acting as a joint bookrunner for the offering. CMB International Capital Limited and CLSA Limited are acting as co-managers for the offering.
iHuman's registration statement relating to the offering has been filed with, and declared effective by, the U.S. Securities and Exchange Commission. This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. This press release is being issued pursuant to and in accordance with Rule 134 under the Securities Act of 1933, as amended.
The offering of the securities is made only by means of a prospectus forming a part of the effective registration statement. A copy of the final prospectus relating to the offering may be obtained, when available, by contacting the following underwriters:
(1) Credit Suisse Securities (USA) LLC, Attention: Prospectus Department at 11 Madison Avenue, New York, NY 10010-3629, United States of America, or by calling 1-800-221-1037, or by email at newyork.prospectus@credit-suisse.com;
(2) Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, via telephone: 1-800-831-9146 or via email at prospectus@citi.com.
About iHuman Inc.
iHuman Inc. is a leading childhood edutainment company in China that is committed to transforming learning into a fun journey for every child. Benefiting from a legacy that combines a strong educational foundation and decades of experience in childhood education with cutting edge technology and an outstanding reputation for original entertainment content, iHuman provides children with unique, interactive, and entertaining learning experiences. The Company's comprehensive suite of innovative and high-quality products and services caters to the educational needs of kids at school and at home, both online and offline, and covers diverse subjects, including Chinese learning, English, mathematics and critical thinking, literacy and reading, Chinese culture, STEM and other subjects. iHuman's line-up of highly effective edutainment products and services include interactive and self-directed learning apps, as well as learning materials and smart learning devices. With solid pedagogy, deep understanding of children's education and psychology, as well as advanced technology capabilities in gamification, AI/AR technologies, and big data analysis, iHuman believes it will continue to provide learning experiences that are both educational and fun for children in China and all over the world through its integrated suite of childhood edutainment products and services.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Statements that are not historical facts, including statements about iHuman's beliefs and expectations, are forward-looking statements. Among other things, the description of the public offering in this announcement contain forward-looking statements. iHuman may also make written or oral forward-looking statements in its periodic reports to the SEC, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: iHuman's growth strategies; its future business development, financial condition and results of operations; its ability to continue to attract and retain users, convert non-paying users into paying users and increase the spending of paying users, the trends in, and size of, China's edutainment market; its expectations regarding demand for, and market acceptance of, its products and services; its expectations regarding its relationships with business partners; general economic and business conditions; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in iHuman's filings with the SEC. All information provided in this press release is as of the date of this press release, and iHuman does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
For investor and media inquiries, please contact:
iHuman Inc.
Ms. Jung Chang
Phone: +86 10 5780-6606
E-mail: jungchang@ihuman.com
Christensen
In China
Mr. Eric Yuan
Phone: +86-13801110739
E-mail: Eyuan@christensenir.com
In US
Ms. Linda Bergkamp
Phone: +1-480-614-3004
E-mail: lbergkamp@christensenir.com
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SOURCE iHuman Inc.
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