Agora Inc. (API) Announces Proposed 17.5M ADS IPO Between $16-$18/ADS

Agora, Inc. (NASDAQ: API), a real-time engagement API provider, today announced the launch of an initial public offering of 17,500,000 American depositary shares ("ADSs"), each representing four Class A ordinary shares of Agora. Agora also intends to grant the underwriters a 30-day option to purchase up to an additional 2,625,000 ADSs to cover overallotments. The initial public offering price is expected to be between $16.00 and $18.00 per ADS. Agora has applied to list its ADSs representing Class A ordinary shares on the Nasdaq Global Select Market under the ticker symbol "API."

Morgan Stanley and BofA Securities will act as the lead bookrunning managers for the proposed offering. Needham & Company will act as co-manager for the proposed offering.

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