IPO - TuanChe Ltd

Form Type: F-1/A

Filing Date: 2025-02-21

Corporate Action: Ipo

Type: Update

Accession Number: 000121390025016097

Filing Summary: On February 21, 2025, TuanChe Limited filed an amendment to its registration statement on Form F-1 for an initial public offering (IPO). This amendment includes details regarding the resale by selling shareholders of up to 761,719 American Depositary Shares (ADSs), each representing 240 Class A ordinary shares. The total amount of Class A ordinary shares under consideration is approximately 182,812,560. The filing indicates that the offered ADSs will be sold at the prevailing market prices or privately negotiated prices. Proceeds from the sale will not go to TuanChe, which intends to use proceeds from the exercise of related warrants for working capital and general corporate purposes. The ADSs trade on the Nasdaq under the symbol 'TC'. TuanChe has also outlined the risks involved due to its corporate structure, reliance on the VIE model for operations in China, restrictions on cash transfers, and uncertainties regarding PRC regulations affecting foreign investment.

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Form Type: F-1

Filing Date: 2024-12-27

Corporate Action: Ipo

Type: New

Accession Number: 000121390024113156

Filing Summary: TuanChe Ltd has filed a registration statement on Form F-1 for an initial public offering of American Depositary Shares (ADSs) representing Class A Ordinary Shares. This filing indicates that the company plans to sell up to 761,719 ADSs, which correspond to 182,812,560 Class A Ordinary Shares, issued or issuable upon the exercise of warrants. These warrants are part of a prior securities purchase agreement executed on October 24, 2024. The selling shareholder in this transaction will offer these ADSs for resale, and the company will not receive proceeds from this specific sale but will enhance cash flow through the exercise of the warrants. The filing underscores the anticipated use of proceeds for working capital and corporate needs, and outlines detailed corporate structure, including risks associated with its variable interest entity (VIE) arrangements in mainland China. Additionally, the document covers the implications of PRC laws on foreign investment and cash transfer restrictions, emphasizing potential impacts on the company's operational flexibility and financial health.

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