HONG KONG, March 1, 2021 /PRNewswire/ -- Lion Group
Holding Ltd. ("Lion" or "the Company") (NASDAQ: LGHL), operator of
an all-in-one trading platform that offers a wide spectrum of
products and services with a focus on Chinese investors, today
announced that one of its subsidiaries, Lion Wealth Management
Limited, will cooperate with Constant Epoch Technology Development
Limited ("Constant Epoch), an investment and R&D company
focusing on innovative technology sector, and Ruoxi Ltd. ("Ruoxi"),
a company holding various investments in internet, technology,
finance, healthcare and other industries, to form a SPAC company --
Skyline I Acquisition Corp.
Constant Epoch is an investment and R&D company, founded by
senior technology innovation professionals and investment bankers
who are focused on innovative, growth-oriented technology
enterprises in the United States
and Asia. Ruoxi is an investment
holding company and was founded by the former co-founder of
Meituan, Mr. Jun Yang. Mr.
Jun Yang has participated in the
founding of many well-known Internet companies such as Renren and
Fanfou.
"This SPAC sponsorship represents a great opportunity for Lion
to cooperate with Constant Epoch and Ruoxi, two highly reputable
companies with a track record of successful investments," Mr. Chunning (Wilson) Wang, Chief Executive Officer
of Lion, commented. "Having gone public via a SPAC vehicle, Lion
has an extensive understanding of SPAC transactions, which
compliments the background, experience, resources and connections
that Constant Epoch and Ruoxi collectively have in the technology
investment field. With these advantages, I believe we are able to
identify a high-quality acquisition target for the SPAC and further
consolidate Lion's value in the capital market."
Mr. Wilson (Chunning) Wang, CEO
of Lion, will be the CEO and Director of Skyline I Acquisition. Mr.
Yipeng Huang, co-founder and CFO of
Constant Epoch, will serve as a Director of Skyline I Acquisition.
Mr. Jun Yang, founder and board
chairman of Ruoxi, will also serve as a Director of Skyline I
Acquisition.
Maxim Group LLC and Loeb & Loeb LLP are acting as the
underwriter and attorney for this transaction, respectively.
About Lion
Lion Group Holding Ltd. (NASDAQ: LGHL) operates an all-in-one
trading platform that offers a wide spectrum of products and
services with a focus on Chinese investors. Through its
state-of-the-art technology, Lion offers contract-for-difference
(CFD) trading, insurance brokerage, futures brokerage, and
securities brokerage on its platform, which can be accessed through
applications available on the iOS, Android, Windows, and macOS
systems. Lion's customers are well-educated and affluent Chinese
individual investors residing both inside and outside the PRC as
well as institutional clients in Hong
Kong. Additional information may be found at
http://ir.liongrouphl.com.
Forward-Looking Statements
This press release contains, "forward-looking statements" within
the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995. Lion's actual results may
differ from their expectations, estimates and projections and
consequently, you should not rely on these forward-looking
statements as predictions of future events. Words such as "expect,"
"estimate," "project," "budget," "forecast," "anticipate,"
"intend," "plan," "may," "will," "could," "should," "believes,"
"predicts," "potential," "might" and "continues," and similar
expressions are intended to identify such forward-looking
statements. These forward-looking statements include, without
limitation, Lion's expectations with respect to future performance
and anticipated financial impacts of the Business combination, the
satisfaction of the closing conditions to the business combination
and the timing of the completion of the business combination. These
forward-looking statements involve significant risks and
uncertainties that could cause actual results to differ materially
from expected results. Most of these factors are outside the
control of Lion and are difficult to predict. Factors that may
cause such differences include, but are not limited to: (1) the
inability to maintain the listing of the post-acquisition company's
ADSs on NASDAQ following the business combination; (2) the risk
that the business combination disrupts current plans and operations
as a result of the announcement and consummation of the
transactions described herein; (3) the inability to recognize the
anticipated benefits of the business combination, which may be
affected by, among other things, competition, the ability of the
combined company to grow and manage growth profitably and retain
its key employees; (4) costs related to the business combination;
(5) changes in applicable laws or regulations; (6) the possibility
that Lion may be adversely affected by other economic, business,
and/or competitive factors; and (7) other risks and uncertainties
to be identified in the proxy statement/prospectus relating to the
business combination, including those under "Risk Factors" therein,
and in other filings with the Securities and Exchange Commission
("SEC") made by Lion. Lion cautions that the foregoing list of
factors is not exhaustive. Lion cautions readers not to place undue
reliance upon any forward-looking statements, which speak only as
of the date made. Lion does not undertake or accept any obligation
or undertaking to release publicly any updates or revisions to any
forward-looking statements to reflect any change in its
expectations or any change in events, conditions or circumstances
on which any such statement is based, subject to applicable
law.
Contacts
Lion Group Holding
Tel: +852 2820 9011
Email: ir@liongrouphl.com
ICR, LLC
William Zima
Tel: +1 203 682 8233
Email: ir@liongrouphl.com
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SOURCE Lion Group Holding Ltd.