AP NEWS

LAIX Inc. Announces Pricing of Initial Public Offering

September 27, 2018

SHANGHAI--(BUSINESS WIRE)--Sep 27, 2018--LAIX Inc. (the “Company”) (NYSE: LAIX), an artificial intelligence (AI) company in China that creates and delivers products and services to popularize English learning, today announced the pricing of its initial public offering of 5,750,000 American depositary shares (“ADSs”) at a price to the public of US$12.50 per ADS for a total offering size of US$71.9 million, assuming the underwriters do not exercise their over-allotment option to purchase additional ADSs. Each ADS represents one Class A ordinary share of the Company, par value US$0.001 per share. The ADSs are expected to begin trading on the New York Stock Exchange today under the symbol “LAIX.”

In addition, the Company has granted the underwriters an over-allotment option, exercisable within 30 days subsequent to the date of the final prospectus, to purchase up to an additional 862,500 ADSs at the initial public offering price per ADS.

Morgan Stanley & Co. LLC and Goldman Sachs (Asia) L.L.C are acting as joint bookrunners of this offering and as the representatives of the underwriters.

A registration statement related to these securities has been filed with, and declared effective by, the United States Securities and Exchange Commission. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The offering is being made only by means of a prospectus. When available, copies of the final prospectus relating to the offering may be obtained by contacting:

Morgan Stanley & Co. LLC, Prospectus Department, 180 Varick Street, Room 214, New York, NY, 10014, United States of America, Attention: Prospectus Department or by calling 1-866-718-1649, or by emailing prospectus@morganstanley.com;

Goldman, Sachs & Co. LLC, 200 West Street, New York, NY, 10282, United States of America, Attention: Prospectus Department, or by calling at 1-212-902-1171.

About LAIX Inc.

LAIX Inc. (“LAIX” or the “Company”) is an artificial intelligence (AI) company in China that creates and delivers products and services to popularize English learning. Its proprietary AI teacher utilizes cutting-edge deep learning and adaptive learning technologies, big data, well-established education pedagogies and the mobile internet. LAIX believes its innovative approach fundamentally transforms learning. LAIX provides its products and services on demand via its mobile apps, primarily its flagship “English Liulishuo” mobile app launched in 2013. On the Company’s platform, AI technologies are seamlessly integrated with diverse learning content incorporating well-established language learning pedagogies, gamified features and strong social elements to deliver an engaging, adaptive learning experience. LAIX provides a variety of courses inspired by a broad range of topics and culture themes to make English learning more interesting and is committed to offering a fun, interactive learning environment to motivate and engage its users.

Safe Harbor Statement

This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to” and similar statements. Statements that are not historical facts, including statements about LAIX Inc.’s beliefs, plans and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in LAIX Inc.’s filings with the SEC. All information provided in this press release is as of the date of this press release, and LAIX Inc. does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

For more information, please visit:  http://ir.laix.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20180927005365/en/

CONTACT: For investor and media inquiries, please contact:

LAIX Inc.

Investor Relations

Email:ir@laix.com

or

The Piacente Group Investor Relations

Brandi Piacente

Tel: +1-212-481-2050

Email:liulishuo@tpg-ir.com

or

Ross Warner

Tel: +86-10-5730-6201

Email:liulishuo@tpg-ir.com

KEYWORD: ASIA PACIFIC CHINA

INDUSTRY KEYWORD: EDUCATION PRIMARY/SECONDARY UNIVERSITY TECHNOLOGY INTERNET AUDIO/VIDEO MOBILE/WIRELESS PROFESSIONAL SERVICES HUMAN RESOURCES TRAINING

SOURCE: LAIX Inc.

Copyright Business Wire 2018.

PUB: 09/27/2018 06:00 AM/DISC: 09/27/2018 06:01 AM

http://www.businesswire.com/news/home/20180927005365/en

AP RADIO
Update hourly