Luckin Coffee Inc. Announces Full Exercise of Option by the Underwriters to Purchase Additional American Depositary Shares

BEIJING, Jan. 17, 2020 (GLOBE NEWSWIRE) -- Luckin Coffee Inc. (“Luckin Coffee” or the “Company”) (NASDAQ: LK), a pioneer of a technology-driven new retail model to provide coffee and other products of high quality, high affordability, and high convenience to customers, today announced the closing of the issuance of an additional 1.35 million American Depositary Shares (“ADSs”), each representing eight Class A ordinary shares of the Company, and 0.72 million ADSs offered by the selling shareholder, at US$42.00 per ADS, pursuant to the exercise in full of the underwriters’ option to purchase such additional ADSs in connection with the previously announced follow-on public ADSs offering (“the ADS Offering”). The Company also announced the closing of the issuance of an additional US$60 million in aggregate principal amount of the previously announced concurrent offering of convertible senior notes of the Company (the “Concurrent Note Offering”).

The Company received net proceeds of approximately US$418.3 million in aggregate from the ADS offering, and net proceeds of approximately US$446.7 million in aggregate from the Concurrent Note Offering. The Company did not receive any proceeds from the sale of ADSs by the selling shareholder. 

Credit Suisse Securities (USA) LLC, Morgan Stanley & Co. LLC, China International Capital Corporation Hong Kong Securities Limited and Haitong International Securities Company Limited are acting as the joint book-running managers for the ADS Offering. KeyBanc Capital Markets Inc. and Needham & Company, LLC are acting as co-managers.

This offering is being made only by means of a written prospectus forming a part of an effective registration statement. Copies of the preliminary prospectus related to the proposed ADS Offering may be obtained from: (1) Credit Suisse Securities (USA) LLC, 11 Madison Avenue, New York, NY 10010-3629, United States of America, Attention: Prospectus Department, (2) Morgan Stanley & Co. LLC, Prospectus Department, 2nd Floor, 180 Varick Street, New York, NY 10014, United States of America, Attention: Prospectus Department, (3) China International Capital Corporation Hong Kong Securities Limited, 29th Floor, One International Finance Centre, 1 Harbour View Street, Central, Hong Kong and (4) Haitong International Securities Company Limited, 8/F, Li Po Chun Chambers, 189 Des Voeux Road Central, Hong Kong, Attention: Equity Capital Markets.