GUANGZHOU, China, Jan. 17, 2020 (GLOBE NEWSWIRE) -- LIZHI INC. ("LIZHI" or the "Company") (NASDAQ:LIZI), a leading online UGC audio community and interactive audio entertainment platform in China, today announced that it has priced its initial public offering of 4,100,000 American depositary shares ("ADSs"), at US$11.0 per ADS for a total offering size of approximately US$45.1 million, assuming the underwriters do not exercise their over-allotment option to purchase any additional ADSs. Each ADS represents twenty Class A ordinary shares of the Company. The ADSs are expected to begin trading on the Nasdaq Global Market today under the ticker symbol "LIZI."

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 at the following underwriters: (1) Citigroup Global Markets Inc., Address: Broadridge, 1155 Long Island Avenue, Bays 4-9, Edgewood, New York, NY 11717, United States, by telephone at +1-800-831-9146; (2) Haitong International Securities Company Limited, Address: 22/F Li Po Chun Chambers, 189 Des Voeux Road Central, Hong Kong, Attention: Equity Capital Markets, by telephone at +852-2848-4333, or by emailing: [email protected]; (3) AMTD Global Markets Limited, Address: 23/F-25/F, Nexxus Building, 41 Connaught Road Central, Hong Kong, by telephone at +852-3163-3288, or by emailing: [email protected]; (4) Needham & Company, LLC, Address: 250 Park Avenue, New York, NY 10177, United States, by telephone at +1-212-371-8300. (5) Tiger Broker (NZ) Limited, Address: Level 16, 191 Queen Street, Auckland Central, New Zealand 1010, by telephone at +64-93-938-128, or by emailing: [email protected]; (6) Prime Number Capital LLC, Address: 1345 Avenue of the Americas, 33F, New York, NY 10105, United States of America, by telephone at +1-212-590-2303, or by emailing: [email protected]. (7) China Merchants Securities (HK) Co., Limited, Address: 48/F, One Exchange Square, 8 Connaught Place Central, Hong Kong, by telephone at +852-3189-6127, or by emailing: [email protected]; (8) Valuable Capital Limited, Address: Room 2808, 28th Floor, China Merchants Tower, Shun Tak Centre, 168-200 Connaught Road Central, Hong Kong, by telephone at +852-2500-0307, or by emailing: [email protected].

This press release contains statements of a forward-looking nature. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. The accuracy of these statements may be impacted by a number of business risks and uncertainties that could cause actual results to differ materially from those projected or anticipated, many of which factors are beyond the Company's control. The Company, its affiliates, advisors, representatives and underwriters do not undertake any obligation to update this forward-looking information, except as required under the applicable law.