BEIJING, China – Luckin Coffee Inc. (“Luckin Coffee” or the “Company”) (NASDAQ: LK), has announced the closing of the issuance of an additional 1.35 million American Depositary Shares (“ADSs”), each representing eight Class A ordinary shares of the Company, and 0.72 million ADSs offered by the selling shareholder, at US$42.00 per ADS, pursuant to the exercise in full of the underwriters’ option to purchase such additional ADSs in connection with the previously announced follow-on public ADSs offering (“the ADS Offering”).
The Company also announced the closing of the issuance of an additional US$60 million in aggregate principal amount of the previously announced concurrent offering of convertible senior notes of the Company (the “Concurrent Note Offering”).
The Company received net proceeds of approximately US$418.3 million in aggregate from the ADS offering, and net proceeds of approximately US$446.7 million in aggregate from the Concurrent Note Offering. The Company did not receive any proceeds from the sale of ADSs by the selling shareholder.
Credit Suisse Securities (USA) LLC, Morgan Stanley & Co. LLC, China International Capital Corporation Hong Kong Securities Limited and Haitong International Securities Company Limited are acting as the joint book-running managers for the ADS Offering. KeyBanc Capital Markets Inc. and Needham & Company, LLC are acting as co-managers.
This offering is being made only by means of a written prospectus forming a part of an effective registration statement.
Copies of the preliminary prospectus related to the proposed ADS Offering may be obtained from: (1) Credit Suisse Securities (USA) LLC, 11 Madison Avenue, New York, NY 10010-3629, United States of America, Attention: Prospectus Department, (2) Morgan Stanley & Co. LLC, Prospectus Department, 2nd Floor, 180 Varick Street, New York, NY 10014, United States of America, Attention: Prospectus Department, (3) China International Capital Corporation Hong Kong Securities Limited, 29th Floor, One International Finance Centre, 1 Harbour View Street, Central, Hong Kong and (4) Haitong International Securities Company Limited, 8/F, Li Po Chun Chambers, 189 Des Voeux Road Central, Hong Kong, Attention: Equity Capital Markets.
The Company plans to use the net proceeds from the ADS Offering and the Concurrent Note Offering for general corporate purposes, which may include store network expansion, unmanned retail initiative, capital expenditure, research and development, sales and marketing, business development, international expansion, working capital, and other general and administrative matters.
A registration statement relating to these securities has been declared effective by the U.S. Securities and Exchange Commission (the “SEC”).
