LIZHI INC. Announces Pricing of Initial Public Offering

GUANGZHOU, China, Jan. 17, 2020 (GLOBE NEWSWIRE) -- LIZHI INC. (“LIZHI” or the “Company”) (NASDAQ: LIZI), a leading online UGC audio community and interactive audio entertainment platform in China, today announced that it has priced its initial public offering of 4,100,000 American depositary shares (“ADSs”), at US$11.0 per ADS for a total offering size of approximately US$45.1 million, assuming the underwriters do not exercise their over-allotment option to purchase any additional ADSs. Each ADS represents twenty Class A ordinary shares of the Company. The ADSs are expected to begin trading on the Nasdaq Global Market today under the ticker symbol “LIZI.”

The Company has granted to the underwriters an option, exercisable within 30 days from the date of the final prospectus, to purchase up to an aggregate of 615,000 additional ADSs at the initial public offering price.

Citigroup Global Markets Inc, Haitong International Securities Company Limited, AMTD Global Markets Limited, Needham & Company, LLC, Tiger Brokers (NZ) Limited and Prime Number Capital LLC are acting as the joint bookrunners of the offering and representatives of the underwriters. China Merchants Securities (HK) Co., Limited and Valuable Capital Limited are acting as co-managers of the offering.

A registration statement related to these securities has been filed with, and declared effective by, the United States Securities and Exchange Commission. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, 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 offering is being made only by means of a prospectus forming part of the effective registration statement. A copy of the final prospectus relating to the offering may be obtained, when available, by contacting at the following underwriters: (1) Citigroup Global Markets Inc., Address: Broadridge, 1155 Long Island Avenue, Bays 4-9, Edgewood, New York, NY 11717, United States, by telephone at +1-800-831-9146; (2) Haitong International Securities Company Limited, Address: 22/F Li Po Chun Chambers, 189 Des Voeux Road Central, Hong Kong, Attention: Equity Capital Markets, by telephone at +852-2848-4333, or by emailing: ecm@htisec.com; (3) AMTD Global Markets Limited, Address: 23/F-25/F, Nexxus Building, 41 Connaught Road Central, Hong Kong, by telephone at +852-3163-3288, or by emailing: prospectus@amtdgroup.com; (4) Needham & Company, LLC, Address: 250 Park Avenue, New York, NY 10177, United States, by telephone at +1-212-371-8300. (5) Tiger Broker (NZ) Limited, Address: Level 16, 191 Queen Street, Auckland Central, New Zealand 1010, by telephone at +64-93-938-128, or by emailing: info_nz@tigerfintech.com; (6) Prime Number Capital LLC, Address: 1345 Avenue of the Americas, 33F, New York, NY 10105, United States of America, by telephone at +1-212-590-2303, or by emailing: projectgalaxy@pncps.com. (7) China Merchants Securities (HK) Co., Limited, Address: 48/F, One Exchange Square, 8 Connaught Place Central, Hong Kong, by telephone at +852-3189-6127, or by emailing: ecm.cmshkteam@cmschina.com.hk; (8) Valuable Capital Limited, Address: Room 2808, 28th Floor, China Merchants Tower, Shun Tak Centre, 168-200 Connaught Road Central, Hong Kong, by telephone at +852-2500-0307, or by emailing: ecm@valuable.com.hk.

About LIZHI INC.

LIZHI INC. is a leading online UGC audio community and interactive audio entertainment platform in China, with a mission to enable everyone to showcase vocal talent. The Company is aiming to bring people closer together through voices.

Since launching Lizhi app in 2013, LIZHI has cultivated a vibrant and growing community encouraging audio content creation and sharing.  Now LIZHI is an audio wonderland offering a wide range of podcasts and audio entertainment products and features, including audio live streaming and various interactive audio products, empowering users to enjoy an immersive and diversified entertainment experience through audio.

LIZHI envisions a global audio community – a place where everyone can create, share and connect with each other through voices and across cultures.

For more information, please visit: http://ir.lizhi.fm.

Forward Looking Statements

This press release contains statements of a forward-looking nature. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. The accuracy of these statements may be impacted by a number of business risks and uncertainties that could cause actual results to differ materially from those projected or anticipated, many of which factors are beyond the Company’s control. The Company, its affiliates, advisors, representatives and underwriters do not undertake any obligation to update this forward-looking information, except as required under the applicable law.

For investor and media inquiries, please contact:

In China:

LIZHI INC.
IR Department
Tel: +86-(20) 3866-4265
E-mail: ir@lizhi.fm

The Piacente Group, Inc.
Jenny Cai
Tel: +86 (10) 6508-0677
E-mail: Lizhi@tpg-ir.com

In the United States:

The Piacente Group, Inc. 
Brandi Piacente
Tel: +1-212-481-2050
E-mail: Lizhi@tpg-ir.com 

 

 

Source: LIZHI INC.

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