Pryor Cashman represented Luokung Technology Corp. (NASDAQ CM: LKCO) in a registered direct offering to accredited investors for aggregate gross proceeds of approximately $8 million to the company. The offering closed on July 28, 2022. Pryor Cashman previously represented LKCO in four prior rounds of financings totaling roughly $153 million in gross proceeds.
Luokung Technology Corp. is a leading spatial-temporal intelligent big data services company, as well as a leading provider of LBS and HD Maps for various industries in China. Backed by its proprietary technologies and expertise in HD Maps and related intelligent spatial-temporal big data, Luokung established city-level and industry-level holographic spatial-temporal digital twin systems and actively serves industries including autonomous driving, vehicle-road collaboration (V2X), smart transportation, smart travel, local business LBS, new infrastructure, smart cities, and smart industries (emergency, natural resources, environmental protection, water conservancy, energy, smart training, among others).
Representing LKCO in the transaction from Pryor Cashman's nationally-recognized Corporate Group were Partner Elizabeth Chen, Chair of the firm's China practice, and Associates Evan Mendelsohn and Steven Xie, with assistance from Partner Michael Campoli and Associate Yingkai Luo.
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