Certain Class A Ordinary Shares of Lichen China Limited are subject to a Lock-Up Agreement Ending on 5-AUG-2023. These Class A Ordinary Shares will be under lockup for 180 days starting from 6-FEB-2023 to 5-AUG-2023.

Details:
The officers, directors and 5% or greater shareholders have agreed, subject to certain exceptions, to a twelve-month lock-up period from the date of prospectus, with respect to the Class A or Class B Ordinary Shares that they beneficially own, including the issuance of shares upon the exercise of convertible securities and options that may be currently outstanding or which may be issued.

For its IPO, LICN agreed an insider lock-up period of 180 days, ending on August 05, 2023. An insider lock-up period is a period of time after a company first goes public where major shareholders are not allowed to sell their shares. The insider lock-up period makes sure that the market does not get oversupplied with shares of the company.