iClick Interactive Asia Group Limited Announces Its Private Placement

iClick Interactive Asia Group Limited, an independent online marketing and enterprise data solutions provider in China, announced that it has entered into subscription agreements with certain investors, who have agreed to purchase an aggregate of 2,107,400 newly issued Class A ordinary shares (equivalent to 4,214,800 American depositary shares) of the Company for a total consideration of US$ 22 million through private placement. The proceeds from the private placement will be used primarily to support continued growth by developing iClick’s Enterprise Solutions and Marketing Solutions and for general corporate purposes. The placement agents were BofA Securities, Inc., ICBC International Securities Limited^[1] and A.G.P./Alliance Global Partners. The transaction is expected to close by June 22, 2020.

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“The interest we have seen from investors in our PIPE financing demonstrates the market’s support of our ongoing business activities and strategic approach,” said Jian “T.J.” Tang, Chief Executive Officer and Co-Founder of iClick, “The financing will provide us with additional resources to fund initiatives that will enhance the long-term growth of our company and generate more value for shareholders. I am particularly pleased that our existing shareholder VGI Public Company Limited, Thailand’s leading online-to-offline solutions provider across advertising, payment and logistics platforms, participated in this PIPE. We also welcome Infinity Group, a well-known PE fund making investments in China, and JLJ Enterprises Limited, a company owned by a multinational logistics group based in Hong Kong, as well as a number of prestigious investment funds from the United States and Asia. Each of these and other commitments represents a vote of confidence in the continued success of our company.”

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It is expected that the share issuances will be exempted from registration under the Securities Act of 1933, as amended (the “Securities Act”), pursuant to Section 4(a)(2) of the Securities Act regarding transactions not involving a public offering or Regulation S under the Securities Act, and the shares issued may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. In connection with the share issuances, the Company will enter into a registration rights agreement with certain investors in the private placement at closing, pursuant to which the Company shall file a registration statement with the Securities Exchange Commission covering the resale of the shares subscribed to by these investors.

This is not an offer to sell or purchase nor the solicitation of an offer to sell or purchase securities and shall not constitute an offer, solicitation or sale in the United States and any other state or jurisdiction in which, or to any person to whom such an offer, solicitation or sale would be unlawful. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from the Company or the selling security holder and that will contain detailed information about the Company and management, as well as financial statements.

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