UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of July 2020
Commission File Number 001-38896
Luckin Coffee Inc.
(Exact Name of Registrant as Specified in Its Charter)
17F Block A, Tefang Portman Tower
No. 81 Zhanhong Road
Siming District, Xiamen, Fujian
Peoples Republic of China, 361008
+86-592-3386666
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F x Form 40-F o
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): o
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): o
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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Luckin Coffee Inc. | |||
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Date: |
July 15, 2020 |
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By: |
/s/ Reinout Hendrik Schakel | |
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Name: |
Reinout Hendrik Schakel |
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Title: |
Chief Financial Officer and Chief Strategy Officer |
Exhibit 99.1
Luckin Coffee Announces the Appointment of Light-Touch Joint Provisional Liquidators in the Cayman Islands
Joint Provisional Liquidators to Facilitate the Negotiation and Restructuring of Financial Obligations; No Material Impact on Daily Operations Expected
Company Continues to Operate its Business under the Day-to-Day Control of the Board of Directors with Supervision by the JPLs
BEIJING, July 15, 2020 (GLOBE NEWSWIRE) Luckin Coffee Inc. (the Company) (OTC:LKNCY) today announced that the Grand Court of the Cayman Islands has appointed Alexander Lawson of Alvarez & Marsal Cayman Islands Limited and Wing Sze Tiffany Wong of Alvarez & Marsal Asia Limited to act as light-touch Joint Provisional Liquidators of the Company (the JPLs). The appointment of the JPLs was made pursuant to an application to appoint provisional liquidators by Luckin Coffee in response to a winding up petition filed by a creditor of the Company. Alvarez & Marsal is a leading consulting firm that specializes in handling complex business issues and maximizing stakeholder value.
The Company believes the appointment of the JPLs will provide a stable platform to allow the Company and its advisors, including Houlihan Lokey (China) Limited (financial advisors to the Company), to facilitate the negotiation and restructuring of the Companys financial obligations. The Company will continue to operate its business under the day-to-day control of its Board of Directors with the supervision of the JPLs. The Company is and will continue to be committed to offering products with high quality, high affordability and high convenience to its customers.
As of June 30, 2020, the Companys estimated preliminary unaudited cash and cash equivalents (excluding restricted cash and illiquid short-term investments) amounted to approximately USD780 million, with the majority of the cash located within the Peoples Republic of China. This amount is based on the information currently available to the Company and has not been audited or reviewed by the Companys auditor. Accordingly, the Companys actual cash and cash equivalents as of June 30, 2020 may differ from the preliminary balance presented here.
Safe Harbor Statement
This announcement contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are made under the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements can be identified by terminology such as will, expects, anticipates, future, intends, plans, believes, estimates, potential, continue, ongoing, targets, guidance and similar statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the SEC), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Any statements that are not historical facts, including statements about the Companys beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Companys growth strategies; its future business development, results of operations and financial condition; its ability to understand buyer needs and provide products and services to attract and retain buyers; its ability to maintain and enhance the recognition and reputation of its brand; its ability to rely on merchants and third-party logistics service providers to provide delivery services to buyers; its ability to maintain and improve quality control policies and measures; its ability to establish and maintain relationships with merchants; trends and competition in Chinas e-commerce market; changes in its revenues and certain cost or expense items; the expected growth of Chinas e-commerce market; PRC governmental policies and regulations relating to the Companys industry, and general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks, uncertainties or factors is included in the Companys filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law.
About Luckin Coffee Inc.
Luckin Coffee Inc. (OTC:LKNCY) has pioneered a technology-driven retail network to provide coffee and other products of high quality, high affordability, and high convenience to customers. Empowered by big data analytics, AI, and proprietary technologies, the Company pursues its mission to be part of everyones everyday life, starting with coffee. The Company was founded in 2017 and is based in China. For more information, please visit investor.luckincoffee.com.
Investor and Media Contacts
Investor Relations:
Luckin Coffee Inc. IR
Email: ir@luckincoffee.com
Bill Zima / Fitzhugh Taylor
ICR, Inc.
Phone: +1 646 880 9039
Media Relations:
Luckin Coffee Inc. PR
Email: pr@luckincoffee.com
Ed Trissel / Jack Kelleher
Joele Frank, Wilkinson Brimmer Katcher
Phone: +1 212 355 4449
Joint Provisional Liquidators:
Alexander Lawson
Alvarez & Marsal Cayman Islands Limited
Email: alawson@alvarezandmarsal.com
Phone: +1 345 916 4500
Tiffany Wong
Alvarez & Marsal Asia Limited
Email: twong@alvarezandmarsal.com
Phone: +852 3102 2663
Financial Advisor:
Brandon Gale / Thomas Seward / Sophia Xia
Houlihan Lokey (China) Limited
Email: HL_Lake@HL.com