Company: LICN
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001213900-25-036244
Chunk: 124

Company: Lichen International Ltd
Filing Date: 2025-04-29
Form: 20-F
Item: Item 19
Chunk 124
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5,648  
  Cash due from the issuance                                       2,831                    -  
  Prepayments to suppliers                                         -                       11  
  Prepayments to potential companies                               -                    3,000  
  Prepaid service fee                                              63                   1,000  
  Other current assets                                             74                      66  
  Total                                   $                        2,968      $         9,725  

On March 9, 2023, the Company (the “ Buyer”)
entered into a purchase agreement (the “ SPA”) with Zhou Zisu, a PRC citizen (the “ Seller”), and Bondly Enterprise
Limited, a proprietary company registered in HongKong (the “ Target”), pursuant to which the Company agreed to purchase100%
of the equity interest of the Target. The purchase price for the Target shares will be determined after the completion of the financial
due diligence. The buyer immediately pays $3million deposit at the time of signing this agreement and the remaining shall be settled
at the Closing. The deposit is refundable and should be returned to the buyer if the conditions to Closing are not met. The transaction
was completed on July 29, 2024.

On December 29, 2024, the Company entered into
a securities purchase agreement with certain institutional investors named thereto (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 of25,000,000Class A ordinary shares, par value $0.00004per share (the “ Class A Ordinary Shares”), at a purchase
price of $0.125per share, and for an aggregate purchase price of $3,125,000(the “ Offering”). The Offering closed on December
30, 2024. The Company has received net proceeds of approximately $2,831,250from the issuance and sale of the Class A Ordinary Shares
on January 2, 2025, after deducting the offering expenses.

F-20

6. Property and equipment, net

Property and equipment, net consisted of the
following:

                                      2024                                  2023               
 ───────────────────────────────────────────────────────────────────────────────────────────────
                                      In thousands of USD                                      
  Buildings                           $                         15,977      $          15,935  
  Furniture and equipment                                          685                    974  
  Motor vehicles                                                   152