Sea Limited Announces Upsize and Pricing of Offering of American Depositary Shares
Summary
SINGAPORE--(BUSINESS WIRE)--Sea Limited (NYSE: SE) (“Sea” or the “Company”) today announced the pricing of 13,200,000 American Depositary Shares (“ADSs”), each representing one Class A ordinary share of the Company, at US$195.00 per ADS in an underwritten public offering. The Company expects to use the net proceeds from this offering for business expansion and other general corporate purposes, including potential strategic investments and acquisitions. The offering is being made pursuant to a shelf registration statement on Form F-3ASR, which became automatically effective upon filing with the U.S. Securities and Exchange Commission (“SEC”) on March 1, 2019, New York City time. Sea Limited (NYSE: SE) is a leading global consumer internet company founded in Singapore in 2009. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Sea’s goals and strategies; its future business development, financial condition, financial results, and results of operations; the growth in, and market size of, the digital entertainment, e-commerce and digital financial services industries in the markets where it operates, including segments within those industries; changes in its revenue, costs or expenditures; its ability to continue to source, develop and offer new and attractive online games and to offer other engaging digital entertainment content; the growth of its digital entertainment, e-commerce and digital financial services businesses and platforms; the growth in its user base, level of user engagement, and monetization; its ability to continue to develop new technologies and/or upgrade its existing technologies; growth and trends of its markets and competition in its industries; government policies and regulations relating to its industries; general economic and business conditions in its markets; and the impact of widespread health developments, including the global coronavirus pandemic, and the responses thereto (such as voluntary and in some cases, mandatory quarantines as well as shut downs and other restrictions on travel and commercial, social and other activities) which could materially and adversely affect, among other things, the business and manufacturing activities of its sellers, merchants and logistics providers, the global supply chain including those of its sellers’ and merchants’, and consumer discretionary spending.