Company: LICN
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001213900-25-036244
Chunk: 15

Company: Lichen International Ltd
Filing Date: 2025-04-29
Form: 20-F
Item: Item 4
Chunk 15
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 securities
will be suspended at the opening of business on February 21, 2025, and a Form 25-NSE will be filed with the U. S. Securities and Exchange
Commission to remove the Company’s securities from listing and registration on Nasdaq, according to Listing Rule 5810(c)(3)(A)(iii)
(the “ Low Priced Stocks Rule”).

The delisting determination
ended the aforementioned compliance period before its expiration because the Company’s stock prices have triggered the Low Priced
Stocks Rule. The Company was provided until February 19, 2025 to request an appeal of the delisting determination to the Panel. On February
19, 2025, the Company has submitted the Company’s hearing request.

On March 19, 2025, the Company
received a letter from Nasdaq confirming that its ordinary shares had maintained a closing bid price of at least $1.00 per share for 10
consecutive business days. As a result, Nasdaq determined that (i) the Company has regained compliance with the Nasdaq Capital Market’s
listing requirements, (ii) the hearing before the Panel scheduled for March 25, 2025, has been canceled, and (iii) the Company’s
securities will continue to be listed and traded on The Nasdaq Stock Market.

Disposition of Lichen Education

On March 27, 2025, the Company
entered into an agreement to transfer 100% of the equity interests in the Xiamen City Legend Education Services Company Limited (“ Lichen
Education”) to Mrs. Lina Li, who is not affiliate of the Company or any of its directors or officers. Pursuant to the Disposition
SPA, the Purchaser agreed to purchase the Lichen Education in exchange for cash consideration of RMB 7.91 million (approximately
$1.10 million, the “ Purchase Price”). Upon the closing of the transaction (the “ Disposition”) contemplated by
the Disposition SPA, Mrs. Lina Li will become the sole shareholder of Lichen Education and as a result, assume all assets and liabilities
of Lichen Education owned. The transaction was closed on March 31, 2025.

Transfers of Cash between Our Company and Our
Subsidiaries

We currently have not maintained
any cash management policies that dictate the purpose, amount and procedure of cash transfers between the Company, our subsidiaries, or
investors. Rather, the funds can be transferred in accordance with