UP Fintech’s $183.1 Million American Depositary Shares Offering

Davis Polk and Conyers advised UP Fintech in the offering.

UP Fintech Holding Limited (Nasdaq: TIGR) , a leading online brokerage firm focusing on global investors, closed its public offering of 6,500,000 American Depositary Shares, each representing 15 Class A ordinary shares of the Company, at a public offering price of US$24.50 per ADS. The Company granted the underwriters a 30-day option to purchase up to an aggregate of 975,000 additional ADSs from the Company at the public offering price. The underwriters fully exercised their option to purchase these additional ADSs.

Citigroup Global Markets Inc., Morgan Stanley & Co. LLC and Tiger Brokers (NZ) Limited acted as the joint bookrunners for the ADS offering.

UP Fintech (NASDAQ: TIGR) is a leading integrated financial technology platform providing cross-market, multi-product investment experience for investors around the world. UP Fintech primarily operates a one-stop digital brokerage platform, which serves as a gateway and provides the brokerage services, ESOP management services, IPO distributions services and more for retail and corporate clients.

The Davis Polk corporate team for UP Fintech included partner Li He (Picture) and registered foreign lawyers Kevin Zhang and Haiyang Zhao. Counsel Alon Gurfinkel and associate Summer Xia provided tax advice. Counsel Marcie A. Goldstein provided FINRA advice. Counsel Sarah E. Kim provided 1940 Act advice.

The Conyers’ team consisted of Partner Christopher Bickley, Legal Manager Rowan Wu and Associate Ryan McConvey.

Involved fees earner: Christopher Bickley – Conyers Dill & Pearman; Ryan McConvey – Conyers Dill & Pearman; Rowan Wu – Conyers Dill & Pearman; Marcie Goldstein – Davis Polk & Wardwell; Li He – Davis Polk & Wardwell; Sarah Kim – Davis Polk & Wardwell; Summer Xia – Davis Polk & Wardwell; Kevin Zhang – Davis Polk & Wardwell; Haiyang Zhao – Davis Polk & Wardwell;

Law Firms: Conyers Dill & Pearman; Davis Polk & Wardwell;

Clients: UP Fintech Holding Limited;

Author: Sonia Carcano