BEIJING, China — Luckin Coffee Inc. (the “Company”), today announced the pricing of its initial public offering of 33,000,000 American Depositary Shares (“ADSs”), each representing eight Class A ordinary shares of the Company, assuming the underwriters do not exercise their option to purchase additional ADSs, at US$17.00 per ADS. The ADSs will begin trading today on the Nasdaq Global Select Market under the ticker symbol “LK.”
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 4,950,000 additional ADSs. The total net proceeds of the offering and the concurrent private placement to Louis Dreyfus Company B.V. are expected to be approximately US$571.2 million if the underwriters do not exercise their option and approximately US$650.8 million if the underwriters exercise their option to purchase additional ADSs in full.
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 bookrunners of this offering. KeyBanc Capital Markets Inc. and Needham & Company, LLC are acting as co-managers.
A registration statement related to the offering has been filed with the U.S. Securities and Exchange Commission (the “SEC”) and declared effective. 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.
The offering is being made only by means of a prospectus forming a part of the effective registration statement. Copies of the prospectus related to the offering may be obtained by calling the following numbers: (1) Credit Suisse Securities (USA) LLC at +1-800-221-1037, (2) Morgan Stanley & Co. LLC at +1-866-718-1649, (3) China International Capital Corporation Hong Kong Securities Limited at +852-2872-2000, and (4) Haitong International Securities Company Limited at +852-2848-4333.
