24/7 Market News Snapshot 12 December, 2024 – Lichen China Limited Class A Ordinary Shares (NASDAQ:LICN)
DENVER, Colo., 12 December, 2024 (247marketnews.com) – (NASDAQ:LICN) are discussed in this article.
Lichen China Limited is experiencing notable fluctuations in its Class A Ordinary Shares (LICN), which opened at $0.331 but has since decreased by approximately 17.61%, currently trading at $0.218. The previous session concluded at $0.265, highlighting a bearish trend amidst increased trading activity with a current volume of 9.54 million shares. This significant decline may present opportunities for investors, as market conditions could suggest oversold levels, attracting potential bargain hunters. Vigilance is recommended as investors should observe key support levels around $0.20 and resistance near $0.265 to assess forthcoming short-term movements.
In conjunction with these market developments, Lichen China Limited has also announced a strategic initiative to improve its capital structure. The company has entered into a definitive agreement to conduct a registered direct offering of 15,000,000 Class A ordinary shares at a price of $0.18 per share, aiming to raise approximately $2.70 million in gross proceeds. This offering includes pre-funded warrants in lieu of shares, demonstrating the company’s adaptability in addressing investor needs. The transaction is expected to close around December 13, 2024, pending customary closing conditions, representing a critical step for Lichen China in enhancing its liquidity and fostering growth.
Univest Securities, LLC has been appointed as the sole placement agent for this offering, ensuring an efficient process for all involved. This registered direct offering is in line with a previously approved shelf registration statement by the U.S. Securities and Exchange Commission, affirming the company’s commitment to robust financial practices.
With 18 years of experience in delivering high-quality financial and taxation services, Lichen China remains a key player in its industry, leveraging its expertise to pursue new growth opportunities while maintaining transparency with its investors. Additional details regarding the offering will be detailed in a supplemental prospectus filed with the SEC, reinforcing the company’s dedication to investor communication regarding its strategic advancements.