Dragon Victory International Limited (NASDAQ: LYL), a company that offers reward-based crowdfunding opportunities and quality incubation services to entrepreneurs in China, today announced that its ordinary shares will commence trading on The NASDAQ Capital Market on October 20, 2017 under the ticker symbol “LYL.” To celebrate Dragon Victory’s senior exchange listing, the Company plans to participate in a Market Bell Ceremony at the NASDAQ MarketSite at Times Square in New York City on a date to be determined.
“Listing on The NASDAQ Capital Market is a significant milestone for our Company and our shareholders, as well as our clients,” stated Mr. Yu Han, Chairman and Chief Executive Officer of Dragon Victory. “We have accomplished a great deal to qualify for this prestigious opportunity to trade on NASDAQ, and it allows more investors to consider holding LYL shares in their portfolios. We believe listing on NASDAQ will improve the Company’s brand awareness, increase transparency through our regulatory disclosures, and ultimately position Dragon Victory for long-term, profitable growth."
Dan McClory, Head of China and Equity Capital Markets at Boustead Securities, LLC, LYL’s Lead Underwriter, stated, “Congratulations to Chairman Han and his team for successfully completing their IPO. Trading on NASDAQ gives Dragon Victory International Limited access to global capital and a diversified investor base. We look forward to seeing LYL’s ongoing trading on NASDAQ,” McClory concluded.
On September 15, 2017, LYL announced the closing of its initial public offering (“IPO”) of 1,421,394 ordinary shares at a price to the public of $6.00 per share for a total of $8,528,363 in gross proceeds before expenses, underwriting discount and commissions.
The registration statement relating to the securities being sold in the offering was declared effective by the Securities and Exchange Commission on July 28, 2017. The offering was made only by means of a prospectus. Copies of the final prospectus relating to this offering may be obtained from: Boustead Securities, LLC, Attention: Equity Capital Markets, 6 Venture, Suite 325, Irvine, CA 92618 USA, firstname.lastname@example.org, or by telephone at +1 949 502 4409.