TIGR: UP Fintech Set to Raise $90 Million Through ADS Offering

Oct 23, 2024

UP Fintech Holding Limited (TIGR, Financial) announced a public offering of 15 million American Depository Shares (ADS) set at a price of $6.25 per share. Each ADS represents 15 Class A ordinary shares. The offering is expected to be completed soon.

The company aims to raise approximately $90 million in net proceeds, which will be utilized to strengthen its capital base and support further business development initiatives.

The announcement of the stock offering led to a significant market reaction, with shares of UP Fintech falling 3.57% to $6.22 during pre-market trading. This decline followed a 13% drop in the company's share price after the initial announcement of the stock sale plan.

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I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.

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