HONG KONG, March 1, 2021 / PRNewswire / – CLPS Incorporation (Nasdaq: CLPS) (“CLPS” or “the Company”), today announced that it has entered into an agreement to purchase securities on February 28, 2021 with some qualified investors to buy about $ 16.0 million value of its ordinary shares and warrants under a direct offer recorded at market price under Nasdaq rules.

Pursuant to the terms of the securities purchase agreement, the Company has agreed to sell 2,666,666 common shares of the Company and to issue unregistered warrants to purchase up to 2,666,666 additional common shares in connection with a simultaneous private placement transaction. The warrants may be exercised immediately on the date of issue and will have an exercise price of $ 6.00. The warrants will expire 5.5 years from the date of issue. The purchase price of a common share and a corresponding warrant will be $ 6.00. The gross proceeds that the Company will derive from the registered direct placement are estimated to be approximately $ 16.0 million before deducting the placement agent’s fees and other estimated offering costs. The registered direct offer should close on or around March 3, 2021, subject to the satisfaction of the usual closing conditions.

Maxim Group LLC is acting as sole placement agent for this offering.

The securities described above are offered by the Company in accordance with a prior registration statement on Form F-3 (file number: 333-231812) filed with the Securities and Exchange Commission (the “SEC”) dated May 29, 2019, as amended, and declared in force on June 20, 2019. A prospectus supplement relating to the Offer will be filed with the SEC and available on the SEC’s website at http://www.sec.gov. Copies of the prospectus supplement relating to the offering can be obtained, when available, by contacting: Maxim Group LLC, 405 Lexington Avenue, 2sd Floor, New York, New York State 10174, by phone: at (212) 895-3500.

This press release does not constitute an offer to sell or the solicitation of an offer to buy, and there will be no sale of such securities in any state or jurisdiction in which such an offer, solicitation or sale would be. illegal before registration or qualification under the securities laws of that state or jurisdiction.

About the company CLPS

Hong Kong-based CLPS Incorporation (the “Company” (Nasdaq: CLPS) is a leading global provider of information technology (“IT”) consulting services and solutions focusing on the information technology (“IT”) sectors. banking, insurance and financial services. The Company serves as an IT solutions provider to a growing network of clients in the global financial services industry, including major financial institutions in the United States, Europe, Australia, South East Asia and Hong Kong SAR, and their data centers based in the PRC. The Company maintains 19 delivery and / or research and development centers to serve different customers in various geographic locations. Mainland China centers are located in Shanghai, Beijing, Dalian, Tianjin, Baoding, Chengdu, Guangzhou, Shenzhen, Hangzhou, Suzhou and Hainan. The remaining eight global centers are located in Hong Kong SAR, United States, United Kingdom, Japan, Singapore, Malaysia, Australia and India. For more information about the Company, please visit: http://ir.clpsglobal.com/, or follow CLPS on Facebook, LinkedIn, and Twitter.

Forward-looking statements

Some of the statements made in this press release are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include statements regarding the beliefs, plans, objectives, goals, expectations, expectations, assumptions, estimates, intentions and future performance of the Company. Known and unknown risks, uncertainties and other factors, which may be beyond the control of the Company, may cause actual results and performance of the Company to differ materially from these forward-looking statements. All such statements attributable to us are expressly qualified in their entirety by this cautionary statement, including, without limitation, the risks and uncertainties relating to the Company’s expectations regarding growth, performance and results of operations. future of the Company, the ability of the business, mergers and acquisitions, technology and other related opportunities and initiatives, as well as the risks and uncertainties described in the latest reports and documents filed by the Company with the SEC. These reports are available on request from the Company or the Securities and Exchange Commission, including on the SEC’s website at http://www.sec.gov. We have no obligation and do not undertake to update, revise or correct any forward-looking statements after the date hereof, or after the respective dates on which such statements otherwise are made.

Contact:

Incorporation of CLPS
Rhon galicha
Investor Relations Office
Phone: + 86-182-2192-5378
E-mail: [email protected]

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