Pryor Cashman represented Luokung Technology Corp. (NASDAQ CM: LKCO) in a registered direct offering to accredited investors for aggregate gross proceeds of approximately $32.8 million to the company. The offering closed on September 22, 2021. Pryor Cashman previously represented LKCO in three prior rounds of financings totaling roughly $120 million in gross proceeds.
LKCO, through one of its variable interest entities, is a China-based provider of location-based services and mobile application products for long-distance travelers in China. LKCO's primary mobile application, the Luokuang platform, consists of the Luokuang mobile applications, a series of supporting software at the server end, and rail-Wi-Fi hardware and equipment on the trains it serves.
Representing LKCO in the transaction from Pryor Cashman's nationally-recognized Corporate Group were Partner Elizabeth Chen, Chair of the firm's China practice, and Associate Evan Mendelsohn, with assistance from Partner Michael Campoli and associate Will Rao.
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