Company: LICN
Filing Date: 2025-01-29
Form Type: 424B5
Source: 0001213900-25-007741
Chunk: 36

Company: Lichen International Ltd
Filing Date: 2025-01-29
Form: 424B5
Chunk 36
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 our business operations and could result in a complete loss of your investment.

Risks Related to this Offering and our Class A Ordinary Shares

Our share price may be volatile and could decline substantially.

The market price of our Class A ordinary shares
may be volatile, both because of actual and perceived changes in our financial results and prospects, and because of general volatility
in the stock market. The factors that could cause fluctuations in our share price may include, among other factors discussed in this section,
the following:

| ● | actual or anticipated variations                                                                 
 in the financial results and prospects of our Company or other companies in the retail business; |

| ● | changes in financial estimates 
 by research analysts;          |

| ● | mergers or other business combinations 
 involving us;                          |

| ● | additions and departures of          
 key personnel and senior management; |

| ● | changes in accounting principles; |

| ● | the passage of legislation                          
 or other developments affecting us or our industry; |

| ● | the trading volume of our Class A ordinary shares in the public market; |

| ● | the release of lockup, escrow,                                                                                
 or other transfer restrictions on our outstanding equity securities or sales of additional equity securities; |

| ● | potential litigation or regulatory 
 investigations;                    |

| ● | changes in economic conditions,                         
 including fluctuations in global and Chinese economies; |

| ● | financial market conditions; |

| ● | the COVID-19 pandemic; |

| ● | natural disasters, terrorist                       
 acts, acts of war, or periods of civil unrest; and |

| ● | the realization of some or                  
 all of the risks described in this section. |

In addition, the stock markets have experienced
significant price and trading volume fluctuations from time to time, and the market prices of the equity securities of retailers have
been extremely volatile and are sometimes subject to sharp price and trading volume changes. These broad market fluctuations may materially
and adversely affect the market price of our Class A ordinary shares.

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Since our management will have broad discretion in how we use the proceeds from this offering, we may use the proceeds in ways with which you disagree.

Our management will have significant flexibility
in applying the net proceeds of this offering. You will be relying on the judgment of our management with regard to the use of those net
proceeds, and you will not have the opportunity, as part of your investment decision, to influence how the proceeds are being used. It
is possible