Espressif Systems raises $1.77bn in targeted A-share issuance

Espressif Systems (Shanghai) Co., Ltd. announced the successful completion of a private placement of 10,440,288 A-shares to specific investors. The issuance, priced at 170.29 yuan per share, raised gross proceeds of 1,777,876,643.52 yuan. After deducting underwriting and sponsorship fees and other issuance expenses, the net proceeds amounted to 1,765,819,289.88 yuan. Of this, 10,440,288.00 yuan increased the share capital, and 1,755,379,001.88 yuan was added to the capital reserve.

The capital contribution was verified on September 26, 2025, confirming the increase in registered capital from 156,702,722.00 yuan to 167,143,010.00 yuan. The issuance involved 17 participating investors, including various fund management companies and securities firms, all subject to a six-month lock-up period.

This capital raise, approved by the China Securities Regulatory Commission, is expected to enhance Espressif's financial strength and support its strategic development initiatives. The company's equity structure, operational scope, and governance remain unchanged.