Agora Announces Closing of Initial Public Offering and Full Exercise of the Underwriters' Overallotment Option
Agora, Inc. announced the successful closing of its initial public offering (IPO) on June 30, 2020, issuing 20,125,000 American depositary shares (ADSs) at a public price of $20.00 per ADS.
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Rhea-AI Summary
Agora, Inc. announced the successful closing of its initial public offering (IPO) on June 30, 2020, issuing 20,125,000 American depositary shares (ADSs) at a public price of $20.00 per ADS. This figure includes the underwriters' full exercise of the option to purchase an additional 2,625,000 ADSs. The ADSs began trading on the Nasdaq under the ticker symbol API on June 26, 2020. Morgan Stanley and BofA Securities served as lead managers, with Needham & Company as a co-manager. The offering's registration statement was declared effective on June 25, 2020.
Positive
- Successful closing of IPO with 20,125,000 ADSs issued.
- Price of ADS set at $20.00, indicating strong market interest.
- Full exercise of underwriters' option for an additional 2,625,000 ADSs.
Negative
- None.
Details
News Market Reaction – API
The recorded move for API in the trading session of this news was -6.02%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
SANTA CLARA, Calif., June 30, 2020 /PRNewswire/ -- Agora, Inc. ("Agora"), a real-time engagement API provider, today announced the closing of its initial public offering of 20,125,000 American depositary shares ("ADSs"), each representing four Class A ordinary shares of Agora, at a price to the public of
!["Agora,]("https://mma.prnewswire.com/media/240347/agora_inc_logo.jpg" "\"Agora,"){kind=logo}
Morgan Stanley and BofA Securities acted as the lead bookrunning managers for the offering. Needham & Company acted as co-manager for the offering.
The offering was made only by means of a prospectus. Copies of the prospectus may be obtained from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, via telephone: 1-917-606-8487, or via email: prospectus@morganstanley.com; or BofA Securities, Inc., Attention: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, via email at dg.prospectus_requests@bofa.com.
A registration statement on Form F-1 relating to these securities has been filed with the Securities and Exchange Commission and was declared effective on June 25, 2020. This release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Media Contact:
Meghan Gardner
agora@matternow.com
971-246-7896
Suzanne Nguyen
Suzanne@agora.io
408-879-5885
!["Cision"]("https://c212.net/c/img/favicon.png?sn=NY50955&sd=2020-06-30" "\"Cision\"")
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SOURCE Agora, Inc.
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