Company: LICN
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001213900-25-036244
Chunk: 81

Company: Lichen International Ltd
Filing Date: 2025-04-29
Form: 20-F
Item: Item 14
Chunk 81
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Item
14. Material Modifications to the Rights of Securities Holders and Use of Proceeds

14. A. - 14. D. Material Modifications to the
Rights of Security Holders

See “ Item 10. Additional
Information” for a description of the rights of shareholders, which remain unchanged.

14. E. Use of Proceeds

Initial Public Offering

The following “ Use of
Proceeds” information relates to the registration statement on Form F-1 (File No. 333-264624), as amended, including the annual
report contained therein, which registered 4,000,000 Class A Ordinary Shares and was declared effective by the SEC on February 3, 2023,
for our initial public offering, which completed on February 8, 2023, at an initial offering price of US$4.00 per Class A Ordinary Share.
Univest Securities, LLC was the representative of the underwriters.

In
connection with the issuance and distribution of the Class A Ordinary Shares in our initial public offering, our expenses incurred and
paid to others totaled approximately US$2.59 million, which included US$1.50 million for underwriting discounts and commissions. None
of the transaction expenses included direct or indirect payments to directors or officers of our company or their associates, persons
owning more than 10% or more of our equity securities or our affiliates or others. We received an aggregate net proceeds of approximately
US$14.1 million from our initial public offering.

As
of the date of this annual report, we used US$14.1million of the net
proceeds received from our initial public offering for internal investment, deposit for potential acquisition, and general corporate purposes.
We still intend to use the remainder of the proceeds from our initial public offering as disclosed in our registration statements on Form
F-1.

None
of these net proceeds from our initial public offering and the optional offering was paid, directly or indirectly, to any of our directors
or officers or their associates, persons owning 10% or more of our equity securities or our affiliates or others.

May 2, 2024 Registered Direct Offering

On May 2, 2024, the Company
entered into securities purchase agreements (the “ Securities Purchase Agreements”) with eight purchasers, each an unrelated
third party to the Company (collectively, the “ Purchasers”). Pursuant to the Securities Purchase Agreements, the Purchasers
agreed to subscribe for and purchase,