Momo Inc. Prices IPO Of 16 Mln ADSs At $13.50/ADS - Quick Facts

(RTTNews) - Momo Inc. (MOMO) said that it has priced its initial public offering or IPO of 16 million American depositary shares or ADSs at US$13.50 per ADS for a total offering size of US$216.0 million, assuming the underwriters do not exercise their option to purchase additional ADSs.

Thew company said each ADS represents two Class A ordinary shares of the Company. The ADSs will begin trading on the NASDAQ Global Select Market today under the ticker symbol "MOMO."

The company said it has granted the underwriters an option, exercisable within 30 days from the date of the final prospectus, to purchase up to 2.4 million additional ADSs at US$13.50 per ADS.

Concurrently with, and subject to, the completion of its initial public offering, the company will close private placements with Alibaba Investment Limited and 58.com Inc.at an aggregate investment amount of US$60.0 million.