24/7 Market News Snapshot 28 January, 2025 – Lichen China Limited Class A Ordinary Shares (NASDAQ:LICN)
DENVER, Colo., 28 January, 2025 (247marketnews.com) – (NASDAQ:LICN) are discussed in this article.
Lichen China Limited is experiencing notable volatility in its Class A ordinary shares, which opened at $0.142 but have since declined to $0.092, marking a decrease of approximately 33.19%. This downturn follows a previous session closing price of $0.138, indicating a bearish trend. With a trading volume of 46.42 million shares, market activity has intensified, suggesting a shift in investor sentiment and heightened potential for further fluctuations. Analysts are advising traders to keep a close watch on support levels around $0.090 and resistance at $0.138, as these will be crucial indicators for any potential price reversal.
In conjunction with this market activity, Lichen China Limited has also announced a registered direct offering as part of its strategic initiatives to bolster its capital resources. The company has entered into a definitive agreement with a consortium of investors for the sale of 42,500,000 Class A ordinary shares priced at $0.08 each, inclusive of options for pre-funded warrants. The gross proceeds from this offering are projected to reach approximately $3.4 million, with the transaction expected to close around January 29, 2025.
This offering, conducted under a shelf registration statement effective since March 2024, is designed to reinforce Lichen China’s financial standing and enhance its service delivery capabilities. A supplementary prospectus detailing the offering terms will be filed with the U.S. Securities and Exchange Commission (SEC), making the information available to interested stakeholders. Univest Securities, LLC is acting as the sole placement agent for this transaction, indicating the rigorous financial groundwork being laid by Lichen China to maintain its leadership in the financial services sector. With over 18 years of industry experience, Lichen China remains committed to delivering innovative financial and taxation solutions that adapt to market demands.