Li Auto Inc. (“Li Auto” or the “Company”) (NASDAQ:LI, HKEX: 2015))))), a leader in China’s new energy vehicle market, today announced that it has filed a prospectus supplement to sell up to an aggregate of US$2,000,000,000 of American depositary shares (“ADSs”), each representing two Class A ordinary shares of the Company, through an at-the-market equity offering program (the “ATM Offering”) on the Nasdaq Global Select Market.
The ADSs will be offered through Goldman Sachs (Asia) L.L.C., UBS Securities LLC, Barclays Capital Inc., and China International Capital Corporation Hong Kong Securities Limited as sales agents. Some of the sales agents are expected to make offers and sales both to investors inside the United States and to qualified investors outside the United States through their respective selling agents.
The Company has entered into an equity distribution agreement with the sales agents relating to the ATM Offering. Sales, if any, of the ADSs under the ATM Offering will be made from time to time, at the Company’s discretion, by means of ordinary brokers’ transactions, to or through a market maker, on or through the Nasdaq Global Select Market, or as otherwise agreed with the sales agents. Sales may be made at market prices prevailing at the time of sale. As a result, sales prices may vary.
The Company intends to use the net proceeds from the ATM Offering for (i) research and development of next-generation electric vehicle technologies including technologies for BEVs, smart cabin, and autonomous driving, (ii) development and manufacture of future platforms and car models, and (iii) working capital needs and general corporate purposes.
The ADSs will be offered under the Company’s existing shelf registration statement on Form F-3, which was filed with the Securities and Exchange Commission (the “SEC”) and automatically became effective on August 2, 2021. A prospectus supplement relating to the ATM Offering has been filed with the SEC. The registration statement on Form F-3 and the prospectus supplement are available at the SEC website at: https://www.sec.gov. Copies of the prospectus supplement and the accompanying prospectus may be obtained by calling Goldman Sachs & Co. toll-free at +1 (866) 471-2526, UBS Securities LLC at +1 (888) 827-7275, Barclays Capital Inc. at +1 (212) 526-0015, and China International Capital Corporation Hong Kong Securities Limited at +852 2872-2000.
This press release shall not constitute an offer to sell or a solicitation of an offer to purchase any securities, nor shall there be a sale of the securities in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful.
