Benzinga | Jul 27, 2020 09:17AM EDT

WiMi Hologram Cloud Prices 7.56M ADS Offering At $8.18/ADS

BEIJING, July 27, 2020 (GLOBE NEWSWIRE) -- WiMi Hologram Cloud Inc. (Nasdaq: WIMI) ("WiMi" or the "Company"), a leading holographic augmented reality ("AR") application platform in China, today announced the pricing of WiMi's "best efforts" public offering of 7,560,000 American Depositary Shares ("ADSs"), each representing two Class B ordinary shares of the Company, at US$8.18 per ADS for a total offering size of up to $61,840,800. Participants in the offering are expected to include a select group of institutional investors in both the US and Asia including WB Online Investment Limited, an affiliate of Weibo Corporation (NASDAQ:WB).

Closing of the offering is expected to take place on July 29th.

The Benchmark Company LLC, and FT Global Capital Inc. are acting as joint lead bookrunning managers while Valuable Capital Limited is acting as Book Running Manager -- Asia for the offering. The ADSs described above are being offered by WiMi pursuant to a registration statement that was declared effective by the Securities and Exchange Commission on July 27, 2020.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

This offering is being made only by means of a prospectus forming part of the effective registration statement. A copy of the final prospectus relating to the offering may be obtained, when available, by contacting The Benchmark Company, LLC, via email at prospectus@benchmarkcompany.com or at 150 East 58th Street, 17th Floor, New York, New York 10155, United States.