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30 July 20203 minute read

DLA Piper advises WiMi Hologram Cloud on US follow-on public offering

DLA Piper has advised WiMi Hologram Cloud Inc, a leading Chinese holographic augmented reality (AR) solution provider, on its US follow-on public offering of USD61,840,800.

The Benchmark Company LLC and FT Global Capital Inc. acted as joint lead bookrunning managers, while Valuable Capital Limited acted as bookrunning manager – Asia for the offering. Participants included a select group of institutional investors in both the US and Asia, including WB Online Investment Limited, an affiliate of Weibo Corporation.

China-based WiMi Hologram is a provider of AR based holographic services including holographic vision presentation and 5G holographic interactive communication software development. Spanning across the advertising, entertainment, education and communication industries, WiMi Hologram's innovative platform is the largest holographic AR integrated solution provider in China. It has been listed on the Nasdaq Global Market since April 2020.

DLA Piper’s Corporate partner Yang Ge, who led the team advising on the transaction, said: “This transaction highlights DLA Piper’s continuing commitment to the technology industry. The global pandemic has accelerated digital and technological transformation and we are excited to have advised one of the industry’s most cutting-edge organisations on its evolving journey.”

The DLA Piper team was led by Beijing-based US securities partner Yang Ge, with support from corporate associate Veronica Liu and legal assistant Guanying Li. Palo Alto-based US tax partner SeoJung Park provided tax advice.