Onion Global Limited Announces Pricing of Initial Public Offering
05/07/2021 - 12:42 PM
GUANGZHOU, China , May 7, 2021 /PRNewswire/ -- Onion Global Limited ("Onion Global" or the "Company") (NYSE: OG), a next-generation lifestyle brand platform that incubates, markets and distributes the world's fresh, fashionable and future brands to young people in China and across Asia , today announced that it has priced its initial public offering (the "IPO") of 9,310,350 American depositary shares ("ADSs"), at US$7.25 per ADS. The aggregate offering size of the IPO is approximately US$67.5 million , assuming the underwriters do not exercise their over-allotment option to purchase any additional ADSs. Each ten (10) ADSs represents one (1) Class A ordinary shares of the Company. The ADSs are expected to begin trading on the New York Stock Exchange on May 7, 2021 under the ticker symbol "OG." The IPO is expected to close on May 11, 2021, subject to customary closing conditions.
The Company has granted the underwriters an option, exercisable for 30 days from the date of the final prospectus, to purchase up to an aggregate of 1,396,550 additional ADSs to cover over-allotments.
AMTD Global Markets Limited and Huatai Securities (USA ), Inc. are acting as the joint bookrunners of the offering and representatives of the underwriters.
A registration statement related to these securities has been filed with, and declared effective by, the SEC. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
This offering is being made only by means of a prospectus forming part of the effective registration statement. A copy of the final prospectus relating to the offering may be obtained, when available, by contacting the following underwriters: (i) AMTD Global Markets Limited at + 852 3163 3288, or at project.fairlady@amtdinc.com ; and (ii) Huatai Securities (USA ), Inc. at +1 (212) 763-8160, or at huatai@htsc-us.com .
About Onion Global Limited
Onion Global Limited (NYSE: OG) ("Onion Global" or the Company") is a next-generation lifestyle brand platform that incubates, markets and distributes the world's fresh, fashionable and future brands ("3F brands") to young people in China and across Asia . Trusted by millions in Asia , Onion Global offers customers a wide selection of lifestyle goods and services that are appealing and unique, a one-stop convenience that enhances their online shopping experience by disrupting the conventional retail landscape in China . The Company has an extensive showcase of 4,001 brands from 86 brand partners on its global platform, and features 23 categories of lifestyle products, including beauty products, maternal and baby products, food and beverages, fast fashion and wellness products. As a leading retail and lifestyle brand platform, the Company offers an integrated solution for brand sourcing, omni-channel marketing, and technology-driven distribution channels that's been designed for new, inspiring and branded products to gain optimum exposure. Empowered by its proprietary technology and big data analytics, the Company identifies and sources from internationally well-known brands, as well as private label brands that represent the fast-changing trends favored by China's younger generations. Onion Global also facilitates millions of user interactions online to help brands build up their own user base, and connect with customers through the platform's influencers who actively promote and share their shopping experiences on social media. Onion Global aims to converge new retail concepts to reshape the lifestyle and consumer culture in China .
For more information, please visit: http://ir.msyc.com/.
Safe Harbor Statement
This press release contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as "may", "will," "expect," "anticipate," "target," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law.
For investor and media inquiries, please contact:
Investors Contact: Investor Relationsir@msyc.cc
Media Contact: ChristensenChina - Mr. Eric Yuan eyuan@christensenir.com
US – Ms. Linda Bergkamp lbergkamp@christensenir.com
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SOURCE Onion Global Limited
