Baozun and iClick Announce Equity Investment and Strategic Business Cooperation
BEIJING, Jan. 26, 2021 (GLOBE NEWSWIRE) -- Baozun Inc. (NASDAQ: BZUN and HKEX: 9991) (“Baozun”) and iClick Interactive Asia Group Limited (NASDAQ: ICLK) (“iClick”), today jointly announced that
Baozun, the leading brand e-commerce service partner that helps brands execute their e-commerce strategies in China, has on January 26, 2021 entered into certain agreements with iClick, an
independent online marketing and enterprise data solutions provider in China.
Pursuant to the share subscription agreement entered into between Baozun and iClick, Baozun has subscribed for 649,349 newly issued Class B ordinary shares (“Issued Class B Shares”) of iClick at an aggregate subscription price of approximately US$17.2 million, or US$26.524 per Class B ordinary share (“Share Subscription”). Holders of Class B ordinary shares of iClick are entitled to 20 votes per share. Concurrently with the issuance of the Issued Class B Shares by iClick, Mr. Wing Hong Sammy Hsieh and Mr. Jian “T.J.” Tang, the current beneficial owners of certain Class B ordinary shares of iClick, has converted 435,530 Class B ordinary shares into Class A ordinary shares. Upon closing of the transactions on January 26, 2021, the total issued and outstanding number of Class B ordinary shares of iClick was 5,034,427.
In addition, Baozun entered into a share purchase agreement with an existing shareholder of iClick, pursuant to which Baozun purchased from such existing iClick shareholder 2,471,468 American Depositary Shares (“ADSs”) at an aggregate purchase price of approximately US$32.8 million, or US$13.262 per ADS (the “Share Purchase”), subject to customary settlement of the ADSs. Two ADSs represent one Class A ordinary share of iClick. Holders of Class A ordinary shares of iClick are entitled to one vote per share.
Based on 41,103,073 Class A ordinary shares and 4,820,608 Class B ordinary shares of iClick outstanding as of January 25, 2021 and taking into account the Class B ordinary shares subscribed by Baozun, after the closing of the above transactions, Baozun beneficially owns approximately 4% of iClick’s total outstanding shares, representing approximately 10% total voting equity of iClick. Baozun is subject to a 180-day lock-up period on the above shares subscribed from iClick or purchased from the existing shareholder.