Jiayin Group Inc. (“Jiayin” or the “Company”) (JFIN), a leading online individual finance marketplace in China, today announced the closing of its previously announced initial public offering of 3,500,000 American Depositary Shares (“ADS”), and the sale of an additional 525,000 ADSs at the public offering price of US$10.50 per ADS pursuant to the exercise in full by the underwriters of their option to purchase additional ADSs. Each ADS represents four Class A ordinary shares.
Jiayin raised a total of approximately US$34.9 million in net proceeds from its initial public offering, after the underwriters’ full exercise of their option to purchase additional ADSs, and after deducting underwriting discounts and commissions as well as other estimated offering expenses.
Roth Capital Partners is acting as sole book running manager for the offering and Shenwan Hongyuan Securities (H.K.) Limited is acting as co-manager for the offering.
The ADSs described above are being offered by the Company pursuant to a registration statement previously filed with, and subsequently declared effective by, the United States Securities and Exchange Commission. The offering is being made only by means of a written prospectus forming part of the effective registration statement. A copy of the final prospectus relating to this offering may be obtained from Roth Capital Partners, 888 San Clemente Drive, Suite 400, Newport Beach, California 92660, United States of America, telephone: +1 (800) 678-9147, or by accessing the SEC’s website, www.sec.gov.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
About Jiayin Group Inc.
Jiayin Group Inc. is a leading online individual finance marketplace in China committed to facilitating effective, transparent, secure and fast connections between investors and borrowers, whose needs are underserved by traditional financial institutions. The origin of the business of the Company can be traced back to 2011. The Company operates a highly secure and open platform with a comprehensive risk management system and a proprietary and effective risk assessment model which employs advanced big data analytics and sophisticated algorithms to accurately assess the risk profiles of potential borrowers.
Safe Harbor / Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the proposed public offering and the intended use of proceeds from the offering. The offering is subject to market and other conditions and there can be no assurance as to whether or when the offering may be completed or as to the actual size or terms of the offering. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including market conditions, risks associated with the cash requirements of our business and other risks detailed from time to time in our filings with the Securities and Exchange Commission, and represent our views only as of the date they are made and should not be relied upon as representing our views as of any subsequent date. We do not assume any obligation to update any forward-looking statements.