Company: LICN
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001213900-25-036244
Chunk: 13

Company: Lichen International Ltd
Filing Date: 2025-04-29
Form: 20-F
Item: Item 4
Chunk 13
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 of $0.079 per Pre-Funded Warrant.

January 28 Registered Direct
Offering closed on January 29, 2025. The Company received approximately $3.4 million in gross proceeds from January 28 Registered Direct
Offering, before deducting placement agent fees and estimated offering expenses.

The Pre-Funded Warrants were
sold to the Purchasers, whose purchase of the Shares in January 28 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 January 28 Registered Direct Offering. Each Pre-Funded Warrant represents the right to purchase
one Class A Ordinary Share at an exercise price of $0.001 per share. The Pre-Funded Warrants are exercisable immediately and may be exercised
at any time until the Pre-Funded Warrants are exercised in full (subject to the beneficial ownership limitation described above). As of
the date of this report, 3,900,000 Pre-Funded Warrants have been exercised and the Company has issued 3,900,000 Class A Ordinary Shares
as a result of such exercise.

On January 28, 2025, the Company
entered into a placement agency agreement (the “ Placement Agency Agreement”) withUnivest
Securities, LLC(“ Univest” or the “ Placement Agent”),
pursuant to which the Company engaged Univestas the exclusive placement agent
in connection with January 28 Registered Direct Offering. The Placement Agent agreed to use its reasonable best efforts to arrange for
the sale of the Shares and the Pre-Funded Warrants. In addition, under the 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 proceeds raised from the sale. The Company also
agreed to reimburse the Placement Agent at closing for legal and other expenses incurred by them in connection with January 28 Registered
Direct Offering in an amount not to exceed $50,000.

The Reverse Share Split

On February 10, 2025, the
Company convened its annual meeting of shareholders, during which the shareholders of the Company adopted resolutions approving an increase
of the Company’s share capital and the reverse share split in a ratio of not less than less
than one (1)-for-twenty (20) and not more than one (1