IPO - Luokung Technology Corp.

Form Type: CORRESP

Filing Date: 2025-02-04

Corporate Action: Ipo

Type: New

Accession Number: 000121390025009931

Filing Summary: Luokung Technology Corp. is requesting the acceleration of the effectiveness of its Registration Statement on Form F-1, initially filed on January 22, 2025. The request is for the statement to become effective at 4:30 p.m., Eastern Time, on February 6, 2025, or as soon thereafter as practicable. The company acknowledges that this request does not limit any actions the SEC may take concerning the filing, nor does it relieve the company of its responsibilities regarding the adequacy and accuracy of the disclosure in the filing. The correspondence includes contact details for Elizabeth Fei Chen, outside counsel to the company.

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Form Type: F-1/A

Filing Date: 2025-01-31

Corporate Action: Ipo

Type: Update

Accession Number: 000121390025008891

Filing Summary: On January 31, 2025, Luokung Technology Corp. filed an amendment to its Form F-1 registration statement with the U.S. Securities and Exchange Commission, indicating it is initiating an initial public offering (IPO) of up to 3,850,792 ordinary shares. This includes shares to be sold by selling shareholders, primarily from a debt-to-equity conversion and subscriptions made in 2024. The filing notes that sales of these shares might substantially impact the trading price of its ordinary shares. It emphasizes the company's structure as a British Virgin Islands holding company with no equity interests in Chinese operating companies, which poses unique risks due to PRC regulations. Investors face risks tied to Chinese laws, including potential changes that could dramatically affect the company's operations and securities value. There are no current intentions to distribute earnings, and the past fiscal transactions reveal minimal movement of funds between the company and its subsidiaries.

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Form Type: F-1

Filing Date: 2025-01-22

Corporate Action: Ipo

Type: New

Accession Number: 000121390025005608

Filing Summary: Luokung Technology Corp filed a registration statement for the proposed sale of up to 3,850,792 ordinary shares, which includes approximately 2,288,292 shares issued to creditors and 1,562,500 shares issued to new investors as part of agreements executed in mid-2024. The offering is primarily for resales by selling shareholders and will not generate proceeds for the company itself. The documents elaborate on the risks associated with the variable interest entity (VIE) structure used by the company to operate in China, emphasizing the regulatory uncertainties and risks of being held under Chinese law, especially regarding the enforcement of such arrangements. The closing price of the ordinary shares was $1.74 on January 22, 2025, and the company operates as a British Virgin Islands holding company with its main operations based in China. The filing notes the emerging growth company status of Luokung and outlines the potential impacts of PRC regulations on its ability to operate and maintain compliance in the future.

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