Company: LICN
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001213900-25-036244
Chunk: 7

Company: Lichen International Ltd
Filing Date: 2025-04-29
Form: 20-F
Item: Item 4
Chunk 7
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8, 2023 and the Class A Ordinary Shares began trading on February 6, 2023 on the Nasdaq Capital Market under the ticker symbol “ LICN.”

May 2, 2024 Registered Direct Offering

On May 2, 2024, the Company
entered into securities purchase agreements (the “ Securities Purchase Agreements”) with eight purchasers, each an unrelated
third party to the Company (collectively, 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 10,380,000 Class A ordinary
shares, par value $0.00004 per share (the “ Class A Ordinary Shares”), at a purchase price of $0.70 per share, and for an aggregate
purchase price of $7,266,000 (the “ Offering”). The Class A Ordinary Shares were offered under the Company’s registration
statement on Form F-3 (File No. 333-277230), initially filed with the U. S. Securities and Exchange Commission on February 21, 2024 and
declared effective on March 1, 2024 (the “ Registration Statement”).

The Offering closed on May
13, 2024. The Company received gross proceeds of approximately $7,266,000 from the issuance and sale of the Class A Ordinary Shares, before
deducting the estimated offering expenses payable by the Company.

Acquisition of Bondly Enterprises Limited

On March 9, 2023, the Company
entered into a Share Purchase Agreement by and among Zisu Zhou, a People’s Republic of China national, Bondly Enterprises Limited,
a proprietary company registered in Hong Kong (the “ Target”). The Target is engaged in the business of professional education.

On July 12, 2024, the Company
entered into a Supplemental Share Purchase Agreement (the “ Supplemental Share Purchase Agreement”, together with the Original
Share Purchase Agreement, the “ Share Purchase Agreements”) by and among the Seller and the Target. Pursuant to the Supplemental
Share Purchase Agreement, the Seller will be selling, and the Company will be purchasing, 60% of the equity interest of the Target at
the total purchase price of US$8,000,000. The Company has paid an initial deposit of $3,000,000 upon execution of the Original Share Purchase
Agreement. On July 17