Luckin Coffee Inc. (LK) Prices 9M ADS Upsized Follow-On Offering at $42/ADS

Luckin Coffee Inc. (NASDAQ: LK), a pioneer of a technology-driven new retail model to provide coffee and other products of high quality, high affordability, and high convenience to customers, today announced the pricing of an upsized public offering of 9.00 million American depositary shares (the “ADSs”), each representing eight Class A ordinary shares (the “Primary ADS Offering”), and 4.80 million ADSs offered by the selling shareholder (the “Secondary ADS Offering” and, together with the Primary ADS Offering, the “ADS Offering”), at US$42.00 per ADS. Luckin Coffee will not receive any proceeds from the sale of ADSs by the selling shareholder. The Company and the selling shareholder have granted the underwriters of the ADS Offering a 30-day option to purchase up to an additional 2.07 million ADSs.

Credit Suisse Securities (USA) LLC, Morgan Stanley & Co. LLC, China International Capital Corporation Hong Kong Securities Limited and Haitong International Securities Company Limited are acting as the joint book-running managers for the ADS Offering. KeyBanc Capital Markets Inc. and Needham & Company, LLC are acting as co-managers.

The Company expects to close the ADS Offering on or about January 14, 2020, subject to the satisfaction of customary closing conditions.

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