Stock Market

Lucas GC Limited Announces Upsized Initial Public Offering

NEW YORK, March 4, 2024 /PRNewswire/ — Lucas GC Limited ("Lucas" or the "Company"), a leading innovative force in the human resources sector powered by artificial intelligence (AI), announced today the pricing details for its greatly anticipated upsized initial public offering (IPO). The Company, which specializes in AI-driven, agent-centric human capital management services, is initially targeting industry professionals through a Platform-as-a-Service (PaaS) model.

The public has been introduced to an offering of 1,500,000 ordinary shares at a price of $4.00 each. This move is set to generate remarkable gross proceeds amounting to $6 million, before the deduction of underwriting discounts and related offering expenses. Investors are keenly observing as the ordinary shares have been sanctioned for listing and are slated to commence trading on the Nasdaq Capital Market on March 5, 2024, under the ticker symbol "LGCL". This offering, pending the satisfaction of customary closing conditions, is projected to close by or around March 7, 2024.

In a strategic move to bolster market trust and provide additional investment opportunities, the Company has extended an option to the underwriters. This option, valid for a period of 45 days following the date of the final prospectus, entitles the underwriters to acquire up to 225,000 additional ordinary shares. These shares are available at the initial public offering price, but are subjected to a deduction of customary underwriting discounts and commissions.

Joseph Gunnar & Co., LLC, a well-respected financial institution, is spearheading the offering as the exclusive book-running manager. Their involvement adds a layer of credibility and acumen to the handling of this financial event.

Lucas GC Limited took the necessary regulatory steps by filing a registration statement pertinent to these securities with the United States Securities and Exchange Commission (SEC), which has been declared effective. It should be noted that this press release is not an offer to sell or a call for an offer to buy. It is not an endorsement for the sale of these securities in any state or jurisdiction where an offer, solicitation, or sale would defy the law prior to registration or qualification under the securities laws of such state or jurisdiction.

For those interested in taking part in this financial venture, note that the offering is exclusively done through a prospectus that is a part of the effective registration statement. The final prospectus detailing the offering, upon availability, can be requested from Joseph Gunnar & Co., LLC. They are located at 40 Wall Street, 30th Floor, New York, NY 10005. For direct inquiries, the Syndicate Department is ready to respond to queries via telephone [(212) 440-9600](tel:(212) 440-9600).

Introducing Lucas GC Limited

Lucas GC Limited has established itself as the premier AI technology-driven online agent-centric human capital management service provider in China. This status is backed by the impressive number of active users involved in human resource industry activities, as recorded on June 30, 2022, and the total net revenues for the year that concluded on December 31, 2021.

The company's technological prowess stems from leveraging artificial intelligence, data analytics, and blockchain technologies to revolutionize the human capital management process in its entirety. Lucas has engineered a platform tailored for cultivating trusted private social networks of professionals. Through this innovative platform, Lucas delivers a spectrum of services including recruitment, outsourcing, and additional services such as information technology and training provisions. Its primary user base consists of professionals affiliated with human resource functions, while its corporate clients ranging from various sectors are in search of solutions for recruitment, training, sales leads generation, and outsourcing services.

For a comprehensive understanding of Lucas GC Limited and its services, individuals are encouraged to visit the company's website at https://www.lucasgchr.com/.

Looking Towards the Future

This announcement comprises certain forward-looking statements which present the company's future expectations and plans. While these forward-looking statements expose the company to various known and unknown risks and uncertainties, they are grounded in Lucas's current projections about forthcoming events that they predict will have an impact on their financial health, operational outcomes, business directives, and financial requirements.

Lucas GC Limited carefully crafts these statements on the foundation of assumptions regarding its current and future business strategies, as well as the environment in which it expects to operate in the times to come. There is a distinct characterization of these prognostic statements by the implementation of terms such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "likely to," or other words of similar implication signifying uncertainty.

The Company wants to reassure their investors and the public that these statements reflect realistic expectations but also cautions that actual results may significantly diverge from what's been put forth. Moreover, Lucas stresses the importance for investors to conduct comprehensive reviews of other factors that may influence the Company's future outcomes.

To stay updated on the evolving fiscal landscape, the Company has conveyed its intention to not revise or publicly update any forward-looking statements to mirror events or circumstances post the date of their conception, unless necessitated by law. This reticence aims to maintain strategic discretion in a dynamic market.

Lucas GC Limited graciously concludes their address with a nod towards ensuring ongoing transparency and regulatory compliance as they maneuver through their growth and expansion. The company highlights its commitment to adhering to legal prerequisites and maximizing shareholder value through informed decision-making and pioneering business practices.

This anticipation-charged environment surrounding Lucas GC Limited's IPO serves as a clear testament to the vibrant and evolving landscape of AI-powered services within the human capital management industry. As the company gears up to mark its presence on the Nasdaq Capital Market, interested parties and investors alike are fixed on the potential surge this technological juggernaut could instigate, heralding a new era for the sector.

The combination of Lucas's groundbreaking PaaS approach, technological integration, and strong corporate user base poses a significant opportunity for growth and transformation in how professional services are rendered and experienced. Secured by its AI, blockchain, and data analytics edge, Lucas is poised to continue developing unique solutions that cater to the thriving demand for advanced human resources tools and services.

Investors who are seeking to diversify their portfolios with avant-garde tech stock could find in Lucas GC Limited a captivating prospect, one that proffers not just a pioneering vision but also a proven track record of user engagement and revenue generation. As the global business community increasingly pivots towards digital and AI-driven operations, Lucas's role as an innovative and adaptable player in the market is expected to become even more pronounced.

With the forthcoming public listing, Lucas GC Limited invites a wider pool of stakeholders to participate in its journey of reshaping the human capital management sector, and to share in the potential benefits of its continued growth and industry leadership.

As March 7, the expected closing date of the offering, approaches, both the company and potential investors will be closely monitoring the proceedings. The success of this IPO could very well set the momentum for Lucas's future endeavors and its contribution to a digitally-enabled and interconnected professional world.

Lucas GC Limited steps into this new chapter with a firm resolve and a clear strategy, epitomizing the union of technological advancement with a depth of industry expertise. The anticipation surrounding Lucas's IPO signifies not only an opportunity for financial investment but also a belief in the transformative potential of AI in professional sectors.

Investors are therefore enjoined to acquaint themselves thoroughly with the final prospectus and seek pertinent information directly from the source. As Joseph Gunnar & Co., LLC makes itself available for such inquiries, thorough due diligence can be conducted, catalyzing informed decision-making for all parties concerned.

The intersection of human capital management with cutting-edge technology has never been more critical, and Lucas GC Limited sits at the very core of this convergence. As the Company embarks on this landmark event, its prospective influence on the industry and the tangible future it envisions through its forward-looking statements will be closely watched by keen observers and participatory investors across the globe.

In conclusion, Lucas GC Limited leverages the profound potential of AI, reigniting the human resources field with its innovative services. As they open their doors to public investment, they not only promise robust technological solutions but also invite the world to witness their ascension in the capital market, marking a significant milestone in the Company's narrative and potentially catalyzing a novel phase of industrial evolution.

SOURCE: Lucas GC Limited