Stock Markets
Lichen China Limited announces $2.8 million share sale
XIAMEN, China – Lichen China Limited (NASDAQ:LICN), a company specializing in financial and taxation services, has announced a definitive agreement with several investors for a registered direct offering. The offering involves the sale of 20 million Class A ordinary shares, or pre-funded warrants as an alternative, at a price of $0.14 per share. This transaction is expected to yield approximately $2.8 million in gross proceeds for the company. The offering comes as the company maintains strong financial fundamentals, with InvestingPro data showing an impressive gross profit margin of 61% and a healthy current ratio of 17.55x.
The closing of the sale is anticipated on or about December 27, 2024, pending the fulfillment of customary conditions. Univest Securities, LLC is the sole placement agent for the offering, which is being conducted under an effective shelf registration statement previously filed with the U.S. Securities and Exchange Commission (SEC) and declared effective on March 1, 2024.
Investors can access the final prospectus supplement and accompanying prospectus, detailing the offering’s terms, on the SEC’s website once filed. The offering is only valid in jurisdictions where it is lawful, and the securities cannot be sold in any jurisdiction where such an offer, solicitation, or sale would be illegal prior to registration or qualification under the applicable securities laws.
Lichen China, with over 18 years of experience, has established a reputation for providing professional and high-quality financial and taxation solutions in China. The company also offers education support services and software and maintenance services under the “Lichen” brand. Despite the stock’s significant decline of 89% year-to-date, InvestingPro analysis indicates the company is currently undervalued, with robust revenue growth of 25% in the last twelve months. Get access to 16 additional ProTips and comprehensive financial analysis with an InvestingPro subscription.
The company’s press release contains forward-looking statements that involve risks and uncertainties. While Lichen China believes the expectations reflected in these statements are reasonable, they caution that actual results may differ materially. Trading at a P/E ratio of 6.4x and with a market capitalization of $8.17 million, investors are encouraged to review factors that may affect the company’s future results in its registration statement and other SEC filings.
This news article is based on a press release statement from Lichen China Limited.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
(Reuters) – An advanced U.S. military anti-missile system was used in Israel to try to intercept a projectile for the first time since President Joe Biden placed the system in Israel in October, a source familiar with the matter told Reuters on Friday.
The THAAD, or Terminal High Altitude Area Defense system, was used to try to intercept a projectile from Yemen sometime during the last 24 hours, and an analysis would determine its success, said the source who spoke on condition of anonymity.
The Pentagon did not immediately respond to a request for comment.
Israel struck multiple targets linked to the Iran-aligned Houthi movement in Yemen on Thursday, including Sanaa International Airport, and Houthi media said at least six people were killed.
Houthis have repeatedly fired drones and missiles towards Israel in what they describe as acts of solidarity with Palestinians in the Gaza Strip.
In October, Biden placed the THAAD system, built by Lockheed Martin (NYSE:), in Israel along with about 100 U.S. soldiers to help defend the country.
THAAD is a critical part of the U.S. military’s layered air defense systems and added to Israel’s already formidable anti-missile defenses.
(Reuters) – A bipartisan Senate Intelligence Committee report published on Friday criticized the CIA’s response to so-called Havana syndrome health problems among its workforce, saying many individuals “faced obstacles to timely and sufficient care.”
A declassified summary of the panel’s classified report also said the spy agency’s response “negatively affected” those who reported symptoms, leading to a “trust deficit” among some personnel.
While the CIA provided benefits and compensation to many of those reporting symptoms, the report said, the ease of accessing those programs has been inconsistent, affecting how the agency has been organized to deal with the matter.
Following these transactions, Saba Capital now holds 4,057,625 shares of Pioneer Municipal High Income Fund, reflecting its continued confidence in the fund’s performance. The fund currently offers a 4.53% dividend yield and maintains a conservative beta of 0.67, indicating lower volatility compared to the broader market. This move underscores Saba Capital’s strategy to enhance its position in the municipal bond market through this investment. InvestingPro analysis reveals several additional key metrics and insights about MHI’s financial health and market position.
Following these transactions, Saba Capital now holds 4,057,625 shares of Pioneer Municipal High Income Fund, reflecting its continued confidence in the fund’s performance. The fund currently offers a 4.53% dividend yield and maintains a conservative beta of 0.67, indicating lower volatility compared to the broader market. This move underscores Saba Capital’s strategy to enhance its position in the municipal bond market through this investment. InvestingPro analysis reveals several additional key metrics and insights about MHI’s financial health and market position.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
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