WiMi Hologram Cloud (WIMI) Prices 4.75M ADS IPO at $5.50/ADS

WiMi Hologram Cloud Inc. (NASDAQ: WIMI), a leading holographic augmented reality ("AR") application platform in China, today announced the pricing of WiMi's underwritten initial public offering of 4,750,000 American Depositary Shares ("ADSs"), each representing two Class B ordinary shares of the Company, at US$5.50 per ADS for a total offering size of $26.1 million, assuming the underwriters do not exercise their option to purchase additional ADSs. The ADSs have been approved for listing on the NASDAQ Global Market and are expected to begin trading on April 1, 2020 under the ticker symbol "WIMI". The underwriters have been granted a 30-day option to purchase up to an additional 712,500 ADSs at the initial public offering price, less the underwriting discounts and commissions. The offering is expected to close on April 3, 2020.

The Benchmark Company LLC, Valuable Capital Limited, Maxim Group LLC, China Merchants Securities (HK) Co. Ltd, BOCI Asia Ltd, and Axiom Capital Management, Inc. are acting as joint bookrunners of this offering. The ADSs described above are being offered by WiMi pursuant to a registration statement that was declared effective by the Securities and Exchange Commission on March 31, 2020.

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