Company: LICN
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001213900-25-036244
Chunk: 31

Company: Lichen International Ltd
Filing Date: 2025-04-29
Form: 20-F
Item: Item 4A
Chunk 31
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 result in our company being unable to pay its debts as they fall due in the ordinary course of business.

Off-Balance Sheet Commitments and Arrangements

On January 28, 2025, the Company
entered into a securities purchase agreement with certain institutional investors named thereto (the “ Purchasers”). Pursuant
to the Securities Purchase Agreements, the Purchasers agreed to subscribe for and purchase, and the Company agreed to issue and sell to
the Purchasers, an aggregate of 42,500,000 Class A ordinary shares, par value $0.00004 per share (the “ Class A Ordinary Shares”),
at a purchase price of $0.08 per share, and for an aggregate purchase price of $3,400,000 (the “ Offering”). The Company has
received net proceeds of approximately $3,052,000.00 from the issuance and sale of the Class A Ordinary Shares on February 3, 2025, after
deducting the offering expenses.

On February 7, 2025, the Company
(the “ Buyer”) entered into a purchase agreement (the “ SPA”) with Zhou Zisu, a PRC citizen (the “ Seller”),
and Bondly Enterprise Limited, a proprietary company registered in HongKong (the “ Target”), pursuant to which the Company
agreed to purchase 40% of the equity interest of the Target at the total purchase price of US$5,330,000. The Securities Purchase Agreements
and the transaction contemplated thereby, have been approved by the Company’s board of directors. On February 26, 2025, the Company
completed the payment of US$5,330,000. The transaction then has been closed.

On February 10, 2025, the
Board approved a one-for-two-hundred (1:200) Reverse Split of the Company’s issued and unissued Class A and Class B ordinary shares.

On March 27, 2025, the Company
entered into an agreement to transfer 100% of the equity interests in the Xiamen City Legend Education Services Company Limited (“ Lichen
Education”) to Mrs. Lina Li, who is not affiliate of the Company or any of its directors or officers. Pursuant to the Disposition
SPA, the Purchaser agreed to purchase the Lichen Education in exchange for cash consideration of RMB 7.91 million (approximately $1.10
million, the “ Purchase Price”). Upon the closing of the transaction (