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Luckin Coffee Prices Upsized Offering Of 9M ADSs And 4.8M ADSs By Selling Shareholder At $42/ADS

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

Benzinga · 01/10/2020 14:13

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 the pricing of an upsized public offering of 9.00 million American depositary shares (the “ADSs”), each representing eight ClassA ordinary shares (the “Primary ADS Offering”), and 4.80 million ADSs offered by the selling shareholder (the “Secondary ADS Offering” and, together with the Primary ADS Offering, the “ADS Offering”), at US$42.00 per ADS. Luckin Coffee will not receive any proceeds from the sale of ADSs by the selling shareholder. The Company and the selling shareholder have granted the underwriters of the ADS Offering a 30-day option to purchase up to an additional 2.07 million ADSs.