Missfresh Limited Announces Pricing of Initial Public Offering

BEIJING, June 25, 2021 (GLOBE NEWSWIRE) -- Missfresh Limited ("Missfresh" or the "Company") MF, an innovator and leader in China's neighborhood retail industry, today announced that it has priced its initial public offering of 21,000,000 American depositary shares ("ADSs"), at US$13 per ADS for a total offering size of approximately US$273 million, assuming the underwriters do not exercise their over-allotment option to purchase additional ADSs. Each ADS represents three Class B ordinary shares of the Company. The ADSs are expected to begin trading on the Nasdaq Global Select Market today under the ticker symbol "MF."

In addition, the Company has granted to the underwriters an option, exercisable within 30 days from the date of the final prospectus, to purchase up to an aggregate of 3,150,000 additional ADSs at the initial public offering price.

J.P. Morgan Securities LLC, Citigroup Global Markets Inc., China International Capital Corporation Hong Kong Securities Limited and China Renaissance Securities (Hong Kong) Limited are acting as representatives of the underwriters for the offering. Haitong International Securities Company Limited, CMB International Capital Limited, AMTD Global Markets Limited, ICBC International Securities Limited, Needham & Company, LLC, China Merchants Securities (HK) Co., Limited, ABCI Securities Company Limited, GF Securities (Hong Kong) Brokerage Limited, Futu Inc., and Tiger Brokers (NZ) Limited are acting as underwriters for the offering.

A registration statement related to these securities has been filed with, and declared effective by, the United States Securities and Exchange Commission. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

This offering is being made only by means of a prospectus forming part of the effective registration statement. A copy of the final prospectus relating to the offering may be obtained, when available, by contacting the following underwriters:

J.P. Morgan Securities LLC
Attention: Broadridge Financial Solutions
1155 Long Island Avenue, Edgewood
New York, NY 11717, United States
Telephone: 1-866-803-9204
Email: prospectus-eq_fi@jpmchase.com

Citigroup Global Markets Inc.
Attention: Prospectus Department
Broadridge, 1155 Long Island Avenue, Bays 4-9, Edgewood
New York, NY 11717, United States
Telephone: +1 800 831-9146
Email: prospectus@citi.com

China International Capital Corporation Hong Kong Securities Limited
29th Floor, One International Finance Centre, 1 Harbour View Street
Central, Hong Kong, China,
Telephone: +852-2872-2000
Email: g_prospectus@cicc.com.cn

China Renaissance Securities (Hong Kong) Limited
Attention: Investment Banking Department
Units 8107-08, Level 81, International Commerce Centre
1 Austin Road West, Kowloon, Hong Kong
Telephone: +852 2287 1686
Email: dl-CRSyndicate@chinarenaissance.com

About Missfresh Limited

Missfresh Limited is an innovator and leader in China's neighborhood retail industry. The Company invented the Distributed Mini Warehouse (DMW) model to operate an integrated online-and-offline on-demand retail business focusing on offering fresh produce and fast-moving consumer goods (FMCGs). Through the "Missfresh" mobile application and Mini Program embedded in third-party social platforms, consumers can easily purchase quality groceries at their fingertips and have the finest products delivered to their doorstep in 39 minutes on average

Leveraging its core capabilities, Missfresh launched an intelligent fresh market business in the second half of 2020. This innovative business model is dedicated to standardizing and transforming fresh markets into smart fresh malls. Missfresh has also built up a full stack of proprietary technologies that empower a wide range of participants in the neighborhood retail business, such as supermarkets, fresh markets and local retailers, to jumpstart and efficiently operate their business in a digital way.

For more information, please visit: http://ir.missfresh.cn.

Safe Harbor Statement

This press release contains statements that may constitute "forward-looking" statements which are made pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "aims," "future," "intends," "plans," "believes," "estimates," "likely to," and similar statements. Statements that are not historical facts, including statements about the Company's beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in the Company's filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

For investor and media inquiries, please contact:

In China:

Missfresh Limited
Investor Relations
Tel: +86 (10) 5954-4422
Email: ir@missfresh.cn

The Piacente Group, Inc.
Jenny Cai
Tel: +86 (10) 6508-0677
Email: missfresh@tpg-ir.com

In the United States:

The Piacente Group, Inc.
Brandi Piacente
Tel: +1-212-481-2050
Email: missfresh@tpg-ir.com