Secondary Stock Offerings
By The Online Investor Staff, updated Sat., Jul. 2, 12:37 PM
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Slide #3. Tuya Inc. — Secondary Offering
Company:
Tuya Inc. (NYSE:TUYA)
Date announced:
6/27/2022
Shares Offered:
7,300,000
Date of Pricing:
6/27/2022
Price Per Share:
$2.46
Secondary Offering Details:
Tuya Inc. ("Tuya" or the "Company") (NYSE: TUYA), a global leading IoT cloud development platform, today announced the pricing of its global offering (the "Global Offering") of 7,300,000 Class A ordinary shares of the Company (the "Offer Shares"), which comprises a Hong Kong public offering (the "Hong Kong Public Offering") and an international offering (the "International Offering"). The final offering price for both the International Offering and the Hong Kong Public Offering (the "Offering Price") has been set as HK$19.30 per Offer Share. Based on the ratio of one Class A ordinary share per NYSE-listed American depositary share (the "ADS"), the Offering Price translates to US$2.46 per ADS based on an exchange rate of HK$7.8494 to US$1.00. In addition, the Company has granted an over-allotment option to the international underwriters, exercisable by the joint representatives on behalf of the international underwriters, until the 30th day after the last day for lodging applications under the Hong Kong Public Offering, to require the Company to issue up to an aggregate of 1,095,000 additional Offer Shares at the Offering Price.
Tuya is an IoT (Internet of Things) solutions provider. Co. is engaged in offering PaaS (Platform-as-a-Service) and Software-as-a-Service (SaaS) solutions to business customers developing IoT devices, including brands and their OEMs (original equipment manufacturer). Co.'s Industry SaaS offering enables businesses to deploy, connect, and manage large numbers and different types of smart devices. Co. also offers businesses, developers and end users a range of cloud-based value-added services for the development and management of IoT experiences. In addition, Co. sells finished smart devices powered by Tuya purchased from qualified OEMs.
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