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UP Fintech Announces Full Exercise of Over-Allotment Option in Follow-on Public Offering of American Depositary Shares

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UP Fintech Holding (Nasdaq: TIGR) announced that underwriters have fully exercised their over-allotment option to purchase an additional 2,250,000 American Depositary Shares (ADSs) at $6.25 per ADS. Each ADS represents 15 Class A ordinary shares. Deutsche Bank AG, China International Capital , and US Tiger Securities acted as joint bookrunners. The offering was made through an automatic shelf registration on Form F-3 filed with the SEC.

UP Fintech Holding (Nasdaq: TIGR) ha annunciato che i sottoscrittori hanno esercitato completamente la loro opzione di sovrallocazione per acquistare ulteriori 2.250.000 American Depositary Shares (ADS) a $6.25 per ogni ADS. Ogni ADS rappresenta 15 azioni ordinarie di Classe A. Deutsche Bank AG, China International Capital e US Tiger Securities hanno agito come bookrunner congiunti. L'offerta è stata effettuata tramite una registrazione automatica su modulo F-3 presentata alla SEC.

UP Fintech Holding (Nasdaq: TIGR) anunció que los suscriptores han ejercido completamente su opción de sobreasignación para comprar 2.250.000 American Depositary Shares (ADS) adicionales a $6.25 por ADS. Cada ADS representa 15 acciones ordinarias de Clase A. Deutsche Bank AG, China International Capital y US Tiger Securities actuaron como bookrunners conjuntos. La oferta se realizó a través de un registro automático en el Formulario F-3 presentado ante la SEC.

UP Fintech Holding (Nasdaq: TIGR)는 주관사가 추가로 2,250,000 미국 예탁주식 (ADS)$6.25로 구매할 수 있는 초과 인수 옵션을 전량 행사했다고 발표했습니다. 각 ADS는 15개의 클래스 A 보통주를 나타냅니다. 도이체방크 AG, 중국 국제 자본, 그리고 US Tiger Securities가 공동 북러너로 활동했습니다. 이번 공모는 SEC에 제출된 F-3 양식을 통한 자동 선반 등록으로 진행되었습니다.

UP Fintech Holding (Nasdaq: TIGR) a annoncé que les souscripteurs ont exercé intégralement leur option de surallocation pour acheter 2.250.000 American Depositary Shares (ADS) supplémentaires à $6.25 par ADS. Chaque ADS représente 15 actions ordinaires de Classe A. Deutsche Bank AG, China International Capital et US Tiger Securities ont agi en tant que bookrunners conjoints. L'offre a été réalisée par le biais d'un enregistrement automatique sur le formulaire F-3 déposé auprès de la SEC.

UP Fintech Holding (Nasdaq: TIGR) gab bekannt, dass die Underwriter ihre Überbelegungsoption vollständig ausgeübt haben, um zusätzlich 2.250.000 American Depositary Shares (ADS) zum Preis von $6.25 pro ADS zu erwerben. Jede ADS repräsentiert 15 Stammaktien der Klasse A. Deutsche Bank AG, China International Capital und US Tiger Securities fungierten als gemeinsame Bookrunner. Das Angebot wurde durch eine automatische Regalregistrierung auf dem Formular F-3 eingereicht, das bei der SEC eingereicht wurde.

Positive
  • Successfully completed additional ADS offering at $6.25 per share
  • Full exercise of over-allotment option indicates strong demand
  • Additional capital raised through 2.25 million ADS sale strengthens balance sheet
Negative
  • Potential dilution of existing shareholders due to additional ADS issuance

Insights

The full exercise of the over-allotment option signals strong investor demand for UP Fintech's shares. The additional $14.06 million raised through 2.25 million ADSs at $6.25 per share strengthens the company's capital position. This successful follow-on offering, supported by major underwriters like Deutsche Bank and CICC, demonstrates institutional confidence in UP Fintech's business model and growth prospects.

The timing and pricing of this offering appear strategic, as the company expands its global brokerage operations. The additional capital could fund technology investments, market expansion, or potential acquisitions. However, existing shareholders should note potential dilution effects, though the strong demand suggests the market views this capital raise positively for long-term growth.

SINGAPORE, Oct. 29, 2024 (GLOBE NEWSWIRE) -- UP Fintech Holding Limited (Nasdaq: TIGR) (“UP Fintech” or the “Company”), a leading online brokerage firm focusing on global investors, today announced that the underwriters of the Company’s follow-on public offering have fully exercised their option to purchase an aggregate of 2,250,000 additional American Depositary Shares (“ADSs”), each representing 15 Class A ordinary shares of the Company, from the Company at the public offering price of US$6.25 per ADS.

Deutsche Bank AG, Hong Kong Branch, China International Capital Corporation Hong Kong Securities Limited and US Tiger Securities, Inc. acted as the joint bookrunners for the ADS offering.

The ADS offering has been made pursuant to an automatic shelf registration statement on Form F-3 filed with the United States Securities and Exchange Commission (the “SEC”) and is available on the SEC’s website at http://www.sec.gov. The ADS offering has been made only by means of a prospectus supplement and an accompanying prospectus included in the Form F-3. The Form F-3 and the prospectus supplement are available on the SEC’s website at http://www.sec.gov.  The final prospectus supplement has been filed with the SEC and is available on the SEC’s website at: http://www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus may be obtained by contacting Deutsche Bank AG, Hong Kong Branch, Level 60, International Commerce Centre, 1 Austin Road West, Kowloon, Hong Kong; China International Capital Corporation Hong Kong Securities Limited 29/F, One International Finance Centre, 1 Harbour View Street, Central, Hong Kong; or, US Tiger Securities, Inc., 437 Madison Avenue, 27th Floor, New York, NY 10022, United States of America.

This announcement shall not constitute an offer to sell, or a solicitation of an offer to buy, the securities described herein, nor shall there be any offer, solicitation or 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.

About UP Fintech Holding Limited

UP Fintech Holding Limited is a leading online brokerage firm focusing on global investors. The Company’s proprietary mobile and online trading platform enables investors to trade in equities and other financial instruments on multiple exchanges around the world. The Company offers innovative products and services as well as a superior user experience to customers through its “mobile first” strategy, which enables it to better serve and retain current customers as well as attract new ones. The Company offers customers comprehensive brokerage and value-added services, including trade order placement and execution, margin financing, IPO subscription, ESOP management, investor education, community discussion and customer support. The Company’s proprietary infrastructure and advanced technology are able to support trades across multiple currencies, multiple markets, multiple products, multiple execution venues and multiple clearinghouses.

For more information on the Company, please visit: https://ir.itigerup.com.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “may,” “might,” “aim,” “likely to,” “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements or expressions. Among other statements, the business outlook and quotations from management in this announcement, the Company’s strategic and operational plans and expectations regarding growth and expansion of its business lines, and the Company’s plans for future financing of its business contain forward-looking statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (“SEC”) on Forms 20−F and 6−K, 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, including the earnings conference call. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. 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: the Company’s ability to effectively implement its growth strategies; trends and competition in global financial markets; changes in the Company’s revenues and certain cost or expense accounting policies; and governmental policies and regulations affecting the Company’s industry and general economic conditions in China, Singapore and other countries. Further information regarding these and other risks is included in the Company’s filings with the SEC, including the Company’s annual report on Form 20-F filed with the SEC on April 22, 2024. All information provided in this press release and in the attachments is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law. Further information regarding these and other risks is included in the Company’s filings with the SEC.

For investor and media inquiries please contact:

Investor Relations Contact
UP Fintech Holding Limited
Email: ir@itiger.com


FAQ

What was the price per ADS in UP Fintech's (TIGR) over-allotment offering?

The price per ADS in UP Fintech's over-allotment offering was US$6.25.

How many additional ADSs were sold in TIGR's over-allotment option exercise?

The underwriters purchased 2,250,000 additional American Depositary Shares (ADSs).

Who were the joint bookrunners for UP Fintech's (TIGR) ADS offering?

Deutsche Bank AG Hong Kong Branch, China International Capital Hong Kong Securities , and US Tiger Securities, Inc. acted as joint bookrunners.

How many Class A ordinary shares does each TIGR ADS represent?

Each ADS represents 15 Class A ordinary shares of UP Fintech.

UP Fintech Holding Ltd American Depositary Share representing fifteen

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