October 19, 2017
HANGZHOU, China, October 19, 2017 – Dragon Victory International Limited, a company that offers reward-based crowdfunding opportunities and quality incubation services to entrepreneurs in China, announced the closing of its initial public offering (the “IPO”) on September 15, 2017, of 1,421,394 ordinary shares at $6.00 per share, raising a total of $8,528,363 in gross proceeds before expenses, underwriting discount and commissions. The Company also announced today that its ordinary shares will commence trading on The NASAQ Capital Market on October 20, 2017, under the ticker symbol “LYL.” Boustead Securities, LLC, acted as the lead underwriter for the IPO, and Network 1 Financial Securities, Inc. acted as the co-underwriter.
Hunter Taubman Fischer & Li LLC acted as U.S. counsel to the Company. The legal team was led by Ying Li, Partner and head of the Firm’s China Practice, and supported by Partner Joan Wu and Associate Catherine Yin.
The Firm’s Managing Partner, Louis Taubman, commented “We are very proud of our client, Dragon Victory International, for completing their IPO and commencing trading on NASDAQ.”
Ms. Ying Li, the Co-Managing Partner of the New York office, stated, “It has been a privilege to work with the excellent team of professionals that brought the IPO to its fruition.”
Hunter Taubman Fischer & Li LLC 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. HTFL currently has offices in New York, Florida and Washington D.C. For more information, please visit Hunter Taubman Fischer and Li. For more information about Dragon Victory and the IPO, please refer to the press release announced by Dragon Victory on 10/19/2017.
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