Company: LICN
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001213900-25-036244
Chunk: 11

Company: Lichen International Ltd
Filing Date: 2025-04-29
Form: 20-F
Item: Item 4
Chunk 11
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124 per Second Closing Pre-Funded Warrant.

December 29 Registered Direct
Offering closed on December 31, 2024. The Company received approximately $3.1 million in gross proceeds from December 29 Registered Direct
Offering, before deducting placement agent fees and estimated offering expenses. The Company intends to use the net proceeds from December
29 Registered Direct Offering for working capital and general corporate purposes.

The Second Closing Pre-Funded
Warrants were sold to the Purchasers, whose purchase of the Second Closing Shares in December 29 Registered Direct Offering would otherwise
have resulted in the Purchasers, together with its affiliates and certain related parties, beneficially owning more than 9.99% 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 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 into a placement agency agreement (the “ Second Closing Placement Agency Agreement”) with Univest,
pursuant to which the Company engaged Univestas the exclusive placement agent
in connection with December 29 Registered Direct Offering. The Placement Agent agreed to use its reasonable best efforts to arrange for
the sale of the Second Closing Shares and the Second Closing Pre-Funded Warrants. In addition, under the Second Closing Placement Agency
Agreement the Company agreed to pay the Placement Agent a placement agent fee in cash equal to seven percent (7.0%) of the aggregate gross
pro