Huami Corporation ("Huami" or the "Company") (NYSE: HMI), a biometric and activity data-driven company with significant expertise in smart wearable technology, today announced that it has priced its initial public offering of 10,000,000 American depositary shares ("ADSs"), at US$11.00 per ADS for a total offering size of approximately US$110.0 million, assuming the underwriters do not exercise their over-allotment option to purchase additional ADSs. Each ADS represents four Class A ordinary shares of the Company. The ADSs are expected to begin trading on the New York Stock Exchange today under the ticker symbol "HMI."
The Company and the selling shareholders have granted the underwriters an option, exercisable within 30 days from the date of the final prospectus, to purchase up to an aggregate of 1,500,000 additional ADSs to cover over-allotments.
Credit Suisse Securities (USA) LLC, Citigroup Global Markets Inc. and China Renaissance Securities (Hong Kong) Limited are acting as joint bookrunners for the offering.
A registration statement related to these securities has been filed with, and declared effective by, the United States Securities and Exchange Commission. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
This offering is being made only by means of a prospectus forming part of the effective registration statement. A copy of the final prospectus relating to the offering may be obtained, when available, by contacting the prospectus department at Credit Suisse Securities (USA) LLC at One Madison Avenue, New York, NY 10010, United States, attention: Prospectus Department, by telephone at 1-800-221-1037 or by emailing firstname.lastname@example.org; Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, United States, telephone: +1-800-831-9146; China Renaissance Securities (Hong Kong) Limited at Unit 8107-08, Level 81, International Commerce Centre, 1 Austin Road West, Kowloon, Hong Kong or by telephone at +852-2287-1600.
About Huami Corporation
Huami is a biometric and activity data-driven company with significant expertise in smart wearable technology. Since its inception in 2013, Huami has quickly established its global market leadership and recognition by shipping millions of units of smart wearable devices. In the first nine months of 2017, Huami shipped 11.6 million units of smart wearable devices, more than any other company in the world, according to Frost & Sullivan. Huami owns a large biometric and activity database in the global smart wearables industry. Huami's mobile apps, Mi Fit and Amazfit, collect over ten dimensions of measurement including heart rate, electrocardiograph, weight, body fat compositions, GPS running track, steps, sleeping duration, etc. Huami's mobile apps work hand in hand with its smart wearable devices and provide users with a comprehensive view and analysis of their data. With a wide range of data from a large number of users, Huami is well-positioned to develop new application scenarios for smart wearable technology and drive innovation. Huami has been the sole partner of Xiaomi, a leading mobile internet company and global consumer electronics brand, to design and manufacture Xiaomi-branded smart bands, watches*, scales and associated accessories, including the Mi Band series.
*Excluding children watches and quartz watches