On the morning of November 8, Beijing time, Sina Technologies News reported that Tuan Che submitted an updated F-1 prospectus to the Securities and Exchange Commission (SEC) on Wednesday.
The latest prospectus shows that the Group car plans to issue 4 million ADS shares (ADS per share represents 4 A common shares). If the Underwriters exercise all the options of excess allotment, the circulation will reach 4.6 million ADS shares.
The IPO price is estimated to be 7.5 to 9.5 ADS per share. Based on the median of $8.5 per share of ADS, the company expects total IPO financing to be about $26.7 million, and to reach $31.4 million if underwriters exercise excess allotment options.
Honour Depot Limited, BAI GmbH and K2 Partners II L.P., the three existing shareholders of the group car, respectively, intend to buy up to $7 million, $5 million and $3 million of the Group car ADS in the IPO.
The Group car will be listed on NASDAQ and the stock trading code is "TC". (Ding Hong)
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