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Luckin Coffee Inc.: Announces Pricing of IPO

Beijing / CN. (lci) Luckin Coffee Inc., the Chinese counterpart of Starbucks, announced the pricing of its initial public offering of 33,000,000 American Depositary Shares (ADSs), each representing eight Class A ordinary shares of the Company, assuming the underwriters do not exercise their option to purchase additional ADSs, at USD 17.00 per ADS. The ADSs began trading 2019/05/17 on the Nasdaq Global Select Market under the ticker symbol «LK».

The Company has granted to the underwriters an option, exercisable within 30 days from the date of the final prospectus, to purchase up to an aggregate of 4,950,000 additional ADSs. The total net proceeds of the offering and the concurrent private placement to Louis Dreyfus Company B.V. are expected to be approximately USD 571.2 million if the underwriters do not exercise their option and approximately USD 650.8 million if the underwriters exercise their option to purchase additional ADSs in full.

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 bookrunners of this offering. KeyBanc Capital Markets Inc. and Needham + Company LLC are acting as co-managers.

About Luckin Coffee Inc.

Luckin Coffee Inc. has pioneered a technology-driven new retail model to provide coffee and other products of high quality, high affordability, and high convenience to the customers. Empowered by big data analytics, AI, and proprietary technologies, the Company pursues its mission to be part of everyone’s everyday life, starting with coffee. The Company was founded in 2017 and is based in China.