Luckin Coffee Inc. Announces Full Exercise of Option by Initial Purchasers to Purchase Additional Convertible Senior Notes
18 January 2020 - 8:30AM
Luckin Coffee Inc. (“Luckin Coffee” or the “Company”) (NASDAQ: LK),
a pioneer of a technology-driven new retail model to provide coffee
and other products of high quality, high affordability, and high
convenience to customers, today announced that it closed the
issuance of an additional US$60 million in aggregate principal
amount of the convertible senior notes due 2025 (the “Notes”),
pursuant to the exercise in full of the initial purchasers’ option
to purchase such additional notes in connection with the previously
announced note offering (the “Note Offering”). The Company also
announced the closing of the issuance of an additional 2.07 million
American Depositary Shares (“ADSs”) of the previously announced
follow-on public offering of ADSs (the “ADS Offering”).
The Company received net proceeds of approximately
US$446.7 million in aggregate from the Note Offering, and net
proceeds of approximately US$418.3 million in aggregate from the
ADS offering. The Company did not receive any proceeds from the
sale of ADSs by the selling shareholder in the ADS
Offering.
The Notes have been offered and sold only to
qualified institutional buyers pursuant to Rule 144A and to
non-U.S. persons outside the United States in reliance on
Regulation S under the Securities Act of 1933, as amended (the
“Securities Act”). The Notes, the American Depositary Shares (each
currently representing eight Class A ordinary shares of the
Company) deliverable upon conversion of the Notes and the Class A
ordinary shares represented thereby have not been and will not be
registered under the Securities Act or the securities laws of any
other place, and may not be offered or sold in the United States
absent registration or an applicable exemption from registration
requirements.
This press release shall not constitute an offer to
sell or a solicitation of an offer to purchase any securities, nor
shall there be a sale of the securities in any state or
jurisdiction in which such an offer, solicitation or sale would be
unlawful.
Safe Harbor Statement
This announcement contains forward-looking
statements within the meaning of Section 21E of the Securities
Exchange Act of 1934, as amended. These forward-looking statements
are made under the “safe harbor” provisions of the U.S. Private
Securities Litigation Reform Act of 1995. These statements can be
identified by terminology such as “will,” “expects,” “anticipates,”
“future,” “intends,” “plans,” “believes,” “estimates,” “potential,”
“continue,” “ongoing,” “targets,” “guidance” and similar
statements. The Company may also make written or oral
forward-looking statements in its periodic reports to the U.S.
Securities and Exchange Commission (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. Any 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 growth strategies; its
future business development, results of operations and financial
condition; its ability to understand buyer needs and provide
products and services to attract and retain buyers; its ability to
maintain and enhance the recognition and reputation of its brand;
its ability to rely on merchants and third-party logistics service
providers to provide delivery services to buyers; its ability to
maintain and improve quality control policies and measures; its
ability to establish and maintain relationships with merchants;
trends and competition in China’s e-commerce market; changes in its
revenues and certain cost or expense items; the expected growth of
China’s e-commerce market; PRC governmental policies and
regulations relating to the Company’s industry, and general
economic and business conditions globally and in China and
assumptions underlying or related to any of the foregoing. Further
information regarding these and other risks, uncertainties or
factors is included in the Company’s filings with the SEC. 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.
About Luckin Coffee Inc.
Luckin Coffee Inc. (NASDAQ: LK) has pioneered
a technology-driven retail network to provide coffee and other
products of high quality, high affordability, and high convenience
to customers. Empowered by big data analytics, AI, and proprietary
technologies, the Company pursues its mission to be part of
everyone’s everyday life, starting with coffee. The Company was
founded in 2017 and is based in China. For more information,
please visit investor.luckincoffee.com.
Investor and Media Contacts
Investor Relations:Luckin Coffee
Inc. IREmail: ir@luckincoffee.com
Bill Zima / Fitzhugh TaylorICR, Inc.Phone: 646
880 9039
Media Relations:Luckin Coffee Inc.
PREmail: pr@luckincoffee.com
Ed Trissel / Scott
Bisang / Jack KelleherJoele Frank, Wilkinson Brimmer
KatcherPhone: 212 355 4449
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