Company: LICN
Filing Date: 2025-01-03
Form Type: 6-K
Source: 0001213900-25-000801
Chunk: 2

Company: Lichen International Ltd
Filing Date: 2025-01-03
Form: 6-K
Chunk 2
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 Exchange Commission (the “Commission”) on March 1, 2024, the base prospectus filed as part of the Registration Statement, and the prospectus supplement dated December 26, 2024 (the “First Prospectus Supplement”).

On December 26, 2024, the Company entered into a placement agency agreement (the “First Closing Placement Agency Agreement”) with Univest Securities, LLC(“ Univest” or the “Placement Agent”), pursuant to which the Company engaged Univestas the exclusive placement agent in connection with December 26 Registered Direct Offering. The Placement Agent agreed to use its reasonable best efforts to arrange for the sale of the First Closing Shares and the First Closing Pre-Funded Warrants. In addition, under the First 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 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 December 26 Registered Direct Offering in an amount not to exceed $50,000.

December 29, 2024 Registered Direct Offering

On December 29, 2024, the Company entered into a securities purchase agreement (the “Second Closing Purchase Agreement”) with the same Purchasers, pursuant to which the Company agreed to issue and sell, in a registered direct offering ( “December 29 Registered Direct Offering”): (i) 13,200,000 Class A Ordinary Shares (the “Second Closing Shares”), at a purchase price of $0.125 per share; and (ii) pre-funded warrants to purchase up to 11,800,000 Class A Ordinary Shares (the “Second Closing Pre-Funded Warrants”) at a purchase price of $0.124 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.

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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.