Company: LICN
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001213900-25-036244
Chunk: 136

Company: Lichen International Ltd
Filing Date: 2025-04-29
Form: 20-F
Item: Item 19
Chunk 136
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, one personal professional advisor, Jimei university and Guangzhou Xingjinhui Trade Co., Ltd contributed approximately30%,21%,18% and16% of total purchases of the Company, respectively. For the year ended December 31, 2022, Beijing Duoying Times Culture
Media Co., Ltd, Guangzhou Xingjinhui Trade Co., Ltd, and Jimei university contributed approximately26%,20% and18% of total purchases
of the Company, respectively.

20. Commitments and contingencies

  (a)      Commitments  
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The Company did not have
any significant commitments, long-term obligations, or guarantees as of December 31, 2024 and 2023.

  (b)      Contingencies  
 ──────────────────────────

The Company is subject
to legal proceedings and regulatory actions in the ordinary course of business. The results of such proceedings cannot be predicted with
certainty, but the Company does not anticipate that the final outcome arising out of any such matter will have a material adverse effect
on our consolidated financial position, cash flows or results of operations on an individual basis or in the aggregate. As of December 31,
2024 and 2023, the Company is not a party to any material legal or administrative proceedings.

21. Subsequent events

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 of42,500,000Class A ordinary shares, par value $0.00004per share (the “ Class A Ordinary
Shares”), at a purchase price of $0.08per share, and for an aggregate purchase price of $3,400,000(the “ Offering”).
The Company has received net proceeds of approximately $3,052,000.00from 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