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HTFL’s Client TIAN RUIXIANG Holdings Ltd Successfully Completed the Initial Closing of Its Follow-on Public Offering

June 07, 2021

Ying Li

Guillaume de Sampigny

TIAN RUIXIANG Holdings Ltd (the “Company”), a China-based insurance broker, successfully completed the initial closing of its best-effort follow-on public offering for the sale of up to 4,800,000 units offered by the Company at a purchase price of US$7.50 per unit pursuant to effective registration statements. The initial closing of 2,000,000 units for aggregate gross proceeds of US$15 million, was made pursuant to the terms of a securities purchase agreement between the Company and several institutional investors. Each unit consists of one Class A ordinary share of the Company, and one warrant to purchase one Class A ordinary share of the Company. Each warrant has an exercise price of US$8.00 per Class A ordinary share. The Company received aggregate gross proceeds of US$15 million from this offering, before deducting related expenses.

Hunter Taubman Fischer & Li LLC (“HTFL”) acted as counsel to the Company. HTFL is a boutique law firm specializing in corporate, commercial and securities transactions, cross-border financing, immigration and taxation. Our team of lawyers works together so our clients can benefit from astute business experience and sophisticated legal solutions.