Company: LICN
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001213900-25-036244
Chunk: 8

Company: Lichen International Ltd
Filing Date: 2025-04-29
Form: 20-F
Item: Item 4
Chunk 8
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, 2024, the Company completed the payment of remaining balance of $5,000,000. The transaction then has been closed.

On February 7, 2025, the Company
entered into a Share Purchase Agreement (the “ Share Purchase Agreement”) by and among Zisu Zhou, a People’s Republic
of China national (the “ Seller”), Bondly Enterprises Limited, a proprietary company registered in Hong Kong (the “ Target”).
The Target is engaged in professional education business. Pursuant to the Share Purchase Agreement, the Seller will be selling, and the
Company will be purchasing, 40% of the equity interest of the Target at the total purchase price of US$5,330,000. On February 26, 2025,
the Company completed the payment of US$5,330,000. The transaction then has been closed.

In February 2025, the Company
announced the completion of its acquisition of the remaining 40% equity interest in Bondly Enterprises Limited (“ Bondly”),
a prominent domestic consulting firm specializing in business process management and informationization. This acquisition follows Lichen
China’s initial purchase of 60% equity in Bondly in 2024, and marks a significant step in Lichen China’s strategy to fully
integrate Bondly’s advanced technologies and AI capabilities into its operations.

The acquisition, valued at
US$5,330,000, underscores Lichen China’s commitment to strengthening its foothold in the AI and technology sectors. By acquiring
the remaining 40% equity, Lichen China aims to gain full control over Bondly’s cutting-edge technologies and highly skilled team,
which are critical to the Company’s future growth and innovation in AI-driven solutions.

Bondly, founded by Mr. Zisu
Zhou, a seasoned expert with 18 years of experience in process management and information development, has established itself as a leader
in business process management and digital transformation. The company’s proprietary AWS BPM system enables seamless integration
across applications, departments, and business environments, enhancing operational efficiency, transparency, and agility for its clients.
Bondly’s expertise in AI development and its strong client base across various industries make it a valuable asset for Lichen China’s
expansion in the AI sector.

The 2023 Equity Incentive Plan

In September 2023, the Company
adopted the 2023 Equity Incentive Plan (the “2023 Incentive Plan”), for the purpose of granting share-based compensation awards