Nasdaq-listed UP Fintech (Nasdaq: TIGR), the operator of the global brokerage platform, Tiger Brokers, announced on Monday that it is raising fresh $90 million by selling convertible notes to institutional investors.
The convertible note, which will mature in 2026, was already subscribed to be purchased by the investors in a private placement. However, the public company did not specify the identity of its new investors yet.
Headquartered in China, Tiger Brokers is a major brokerage platform with services around the world. The broker is operational in Europe and the Asia-Pacific region, but its key markets remanded China, Singapore and New Zealand.
UP Fintech Holding Limited (NASDAQ: TIGR) (“UP Fintech” or the “Company”), a leading online brokerage firm focusing on global investors, today announced that a consortium of leading institutional investors has subscribed to purchase convertible notes in an aggregate principal amount of US$90 million through a private placement. Consummation of the placement of the convertible notes is subject to satisfaction of customary closing conditions. The convertible notes to be issued will mature in 2026 unless previously converted.
About UP Fintech Holding Limited
UP Fintech Holding Limited is a leading online brokerage firm focusing on global investors. The Company’s proprietary mobile and online trading platform enables investors to trade in equities and other financial instruments on multiple exchanges around the world. The Company offers innovative products and services as well as a superior user experience to customers through its “mobile first” strategy, which enables it to better serve and retain current customers as well as attract new ones. The Company offers customers comprehensive brokerage and value-added services, including trade order placement and execution, margin financing, IPO subscription, ESOP management, investor education, community discussion and customer support. The Company’s proprietary infrastructure and advanced technology are able to support trades across multiple currencies, multiple markets, multiple products, multiple execution venues and multiple clearinghouses.