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Agora Prices 17.5M ADS IPO @$20/ADS

Agora, Inc. (NASDAQ: API), a real-time engagement API provider, today announced the pricing of its initial public offering of 17,500,000 American depositary shares ("ADSs"), each representing four Class A ordinary shares of Agora, at a price to the pub

Benzinga · -
Agora, Inc. (NASDAQ: API), a real-time engagement API provider, today announced the pricing of its initial public offering of 17,500,000 American depositary shares ("ADSs"), each representing four Class A ordinary shares of Agora, at a price to the public of $20.00 per ADS. Agora has granted the underwriters a 30-day option to purchase up to an additional 2,625,000 ADSs to cover overallotments. The ADSs are expected to begin trading on the Nasdaq Global Select Market on June 26, 2020 under the ticker symbol "API." The offering is expected to close on June 30, 2020, subject to customary closing conditions. Morgan Stanley and BofA Securities are acting as the lead bookrunning managers for the offering. Needham & Company is acting as co-manager for the offering.