LAIX Inc. (the Company) (NYSE: LAIX), an artificial intelligence (AI) company in China that creates and delivers products and services to popularize English learning, today announced the pricing of its initial public offering of 5,750,000 American depositary shares (ADSs) at a price to the public of US$12.50 per ADS for a total offering size of US$71.9 million, assuming the underwriters do not exercise their over-allotment option to purchase additional ADSs. Each ADS represents one Class A ordinary share of the Company, par value US$0.001 per share. The ADSs are expected to begin trading on the New York Stock Exchange today under the symbol LAIX.
In addition, the Company has granted the underwriters an over-allotment option, exercisable within 30 days subsequent to the date of the final prospectus, to purchase up to an additional 862,500 ADSs at the initial public offering price per ADS.
Morgan Stanley & Co. LLC and Goldman Sachs (Asia) L.L.C are acting as joint bookrunners of this offering and as the representatives of the underwriters.
A registration statement related to these securities has been filed with, and declared effective by, the United States Securities and Exchange Commission. 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.
The offering is being made only by means of a prospectus. When available, copies of the final prospectus relating to the offering may be obtained by contactingï¼š
Morgan Stanley & Co. LLC, Prospectus Department, 180 Varick Street, Room 214, New York, NY, 10014, United States of America, Attention: Prospectus Department or by calling 1-866-718-1649, or by emailing [email protected];
Goldman, Sachs & Co. LLC, 200 West Street, New York, NY, 10282, United States of America, Attention: Prospectus Department, or by calling at 1-212-902-1171.
About LAIX Inc.
LAIX Inc. (LAIX or the Company) is an artificial intelligence (AI) company in China that creates and delivers products and services to popularize English learning. Its proprietary AI teacher utilizes cutting-edge deep learning and adaptive learning technologies, big data, well-established education pedagogies and the mobile internet. LAIX believes its innovative approach fundamentally transforms learning. LAIX provides its products and services on demand via its mobile apps, primarily its flagship English Liulishuo mobile app launched in 2013. On the Companys platform, AI technologies are seamlessly integrated with diverse learning content incorporating well-established language learning pedagogies, gamified features and strong social elements to deliver an engaging, adaptive learning experience. LAIX provides a variety of courses inspired by a broad range of topics and culture themes to make English learning more interesting and is committed to offering a fun, interactive learning environment to motivate and engage its users.
Safe Harbor Statement
This press release contains statements that may constitute forward-looking statements pursuant to the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as will, expects, anticipates, aims, future, intends, plans, believes, estimates, likely to and similar statements. Statements that are not historical facts, including statements about LAIX Inc.s beliefs, plans and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in LAIX Inc.s filings with the SEC. All information provided in this press release is as of the date of this press release, and LAIX Inc. does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
For more information, please visit: http://ir.laix.com.