EHang Holdings has announced the pricing of its initial public offering (IPO) of 3,200,000 American Depositary Shares (“ADSs”).
It will represent 6,400,000 Class A ordinary shares at a public offering price of $12.50 per ADS.
In addition, EHang has granted the underwriters a 30-day option to purchase up to an additional 480,000 ADSs at the initial public offering price.
The ADSs began trading on the Nasdaq Global Market yesterday, under the symbol “EH”.
The offering is expected to close on December 16, subject to customary closing conditions.
Morgan Stanley & Co. LLC, is acting as the sole bookrunner for the offering, and Needham & Company, LLC, Tiger Brokers (NZ) Limited and Prime Number Capital, LLC are acting as co-managers for the offering.
A registration statement relating to the ADSs being sold in this offering was declared effective by the Securities and Exchange Commission on December 11.
The offering is being made only by means of a prospectus, copies of which may be obtained, when available, for free by visiting the SEC’s website.