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OFFON

LUOKUNG TECHNOLOGY CORP.

(LKCO)
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Luokung Technology : Pryor Cashman Represents Luokung Technology Corp. In Registered Direct Offering

09/27/2021 | 02:08am EST

Pryor Cashman represented Luokung Technology Corp. (NASDAQ CM: LKCO) in a registered direct offering to accredited investors for aggregate gross proceeds of approximately $32.8 million to the company. The offering closed on September 22, 2021. Pryor Cashman previously represented LKCO in three prior rounds of financings totaling roughly $120 million in gross proceeds.

LKCO, through one of its variable interest entities, is a China-based provider of location-based services and mobile application products for long-distance travelers in China. LKCO's primary mobile application, the Luokuang platform, consists of the Luokuang mobile applications, a series of supporting software at the server end, and rail-Wi-Fi hardware and equipment on the trains it serves.

Representing LKCO in the transaction from Pryor Cashman's nationally-recognized Corporate Group were Partner Elizabeth Chen, Chair of the firm's China practice, and Associate Evan Mendelsohn, with assistance from Partner Michael Campoli and associate Will Rao.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

Ms Elizabeth Fei Chen
Pryor Cashman LLP
7 Times Square
New York
NY 10036
UNITED STATES
Tel: 212421 4100
Fax: 212326 0806
E-mail: marketingdepartment@pryorcashman.com
URL: www.pryorcashman.com

© Mondaq Ltd, 2021 - Tel. +44 (0)20 8544 8300 - http://www.mondaq.com, source Business Briefing

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Financials (USD)
Sales 2020 18,3 M - -
Net income 2020 -39,9 M - -
Net Debt 2020 40,8 M - -
P/E ratio 2020 -3,79x
Yield 2020 -
Capitalization 289 M 289 M -
EV / Sales 2019 19,2x
EV / Sales 2020 10,1x
Nbr of Employees 180
Free-Float 87,2%
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Managers and Directors
Xue Song Song Chairman & Chief Executive Officer
Dong Pu Zhang President & Director
Jie Yu Chief Financial Officer
Jian Zhao Technology Director
Baomin Li Chief Technical Officer
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