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Luckin Coffee announces completion of public offering of American depositary shares

Luckin SAMR

BEIJING, China – Luckin Coffee Inc. (“Luckin Coffee” or the “Company”) yesterday announced the completion of the public offering of 9.00 million American depositary shares (the “ADSs”), each representing eight Class A ordinary shares of the Company (the “Primary ADS Offering”), and 4.8 million ADSs offered by the selling shareholder (the “Secondary ADS Offering”, 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. The Company also closed the previously announced concurrent offering of convertible senior notes (“Notes”) of the Company.

The Company received net proceeds of approximately US$363.6 million from the Primary ADS Offering, and net proceeds of approximately US$388.4 million from the concurrent note offering. We expect to receive approximately an additional US$54.7 million from the Primary ADS Offering if the underwriters exercise their option to purchase additional ADSs from us in full, and approximately an additional US$58.3 million if the initial purchasers in the concurrent note offering exercise in full their option to purchase additional Notes.

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.

This offering is being made only by means of a written prospectus forming a part of an effective registration statement. Copies of the preliminary prospectus related to the proposed ADS Offering may be obtained from: (1) Credit Suisse Securities (USA) LLC, 11 Madison Avenue, New York, NY 10010-3629, United States of America, Attention: Prospectus Department, (2) Morgan Stanley & Co. LLC, Prospectus Department, 2nd Floor, 180 Varick Street, New York, NY 10014, United States of America, Attention: Prospectus Department, (3) China International Capital Corporation Hong Kong Securities Limited, 29th Floor, One International Finance Centre, 1 Harbour View Street, Central, Hong Kong and (4) Haitong International Securities Company Limited, 8/F, Li Po Chun Chambers, 189 Des Voeux Road Central, Hong Kong, Attention: Equity Capital Markets.

The Company plans to use the net proceeds from the Primary ADS Offering and the concurrent note offering for general corporate purposes, which may include store network expansion, unmanned retail initiative, capital expenditure, research and development, sales and marketing, business development, international expansion, working capital, and other general and administrative matters.

A registration statement relating to these securities has been declared effective by the U.S. Securities and Exchange Commission (the “SEC”). This press release shall not constitute an offer to sell or a solicitation of an offer to purchase any securities, nor shall there be a sale of the securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.