Company: LICN
Filing Date: 2025-01-03
Form Type: 6-K
Source: 0001213900-25-000801
Chunk: 3

Company: Lichen International Ltd
Filing Date: 2025-01-03
Form: 6-K
Chunk 3
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99% of the outstanding share capital of the Company following the consummation of December 29 Registered Direct Offering. Each Second Closing Pre-Funded Warrant represents the right to purchase one Class A Ordinary Share at an exercise price of $0.001 per share. The Second Closing Pre-Funded Warrants are exercisable immediately and may be exercised at any time until the Second Closing Pre-Funded Warrants are exercised in full (subject to the beneficial ownership limitation described above). As of the date of this report, the Second Closing Pre-Funded Warrants have been exercised in full and the Company has issued 11,800,000 Class A Ordinary Shares as a result of such exercise.

The Second Closing Purchase Agreement contains customary representations, warranties and agreements by the Company, customary conditions to closing, indemnification obligations of the Company, other obligations of the parties, and termination provisions. Additionally, each of the directors and executive officers of the Company entered into a lock-up agreement, pursuant to which they agreed not to sell or transfer any of the Company securities which they hold, subject to certain customary exceptions, during the ninety (90)-day period following the closing of December 29 Registered Direct Offering.

In addition, the Company agreed that for a period of sixty (60) days from the closing date of December 29 Registered Direct Offering, it will not: (i) issue, enter into any agreement to issue or announce the issuance or proposed issuance of any Class A Ordinary Shares or equivalent securities; or (ii) file any registration statement or amendment or supplement thereto (other than on Form S-8 or in connection with the registration for resale of the Class A Ordinary Shares). In addition, the Company agreed that it will not conduct any sales of Class A Ordinary Shares or equivalent securities involving a variable rate transaction (as defined in the Purchase Agreement) for a period of ninety (90) days from the closing date of December 29 Registered Direct Offering, subject to certain exceptions as described in theSecond Closing Purchase Agreement.

The Second Closing Shares, the Second Closing Pre-Funded Warrants and the Class A Ordinary Shares underlying the Second Closing Pre-funded Warrants (together with the Second Closing Shares and the Second Closing Pre-Funded Warrants, the “Second Closing Securities”) were offered by the Company pursuant to the Registration Statement, the base prospectus filed as part of the Registration Statement, and the prospectus supplement dated December 29, 2024 (the “Second Prospectus Supplement”).

On December 29, 2024, the Company entered