Summary
Beigene, Ltd. (ONC) has filed an 8-K report on August 18, 2017, to announce the successful closing of its follow-on public offering of American Depositary Shares (ADSs). The offering, which closed on August 16, 2017, involved the sale of 2,834,750 ADSs, each representing 13 ordinary shares, at a price of $71.00 per ADS. This transaction generated approximately $201 million in gross proceeds, including the full exercise of the underwriters' option to purchase additional ADSs. The offering was facilitated by a shelf registration statement filed with the SEC, with a final prospectus supplement filed on August 11, 2017. The proceeds from this offering will likely be used to fund the company's ongoing research and development activities and general corporate purposes, supporting its mission as an emerging growth company in the biopharmaceutical sector.
Key Highlights
- 1Beigene, Ltd. successfully closed a follow-on public offering of American Depositary Shares (ADSs) on August 16, 2017.
- 2The offering comprised 2,834,750 ADSs, with each ADS representing 13 ordinary shares.
- 3The price per ADS was set at $71.00.
- 4Gross proceeds from the offering amounted to approximately $201 million.
- 5The full exercise of the underwriters' option to purchase additional ADSs was included in the offering.
- 6The offering was conducted under an effective shelf registration statement filed with the SEC.
- 7Key underwriters included Morgan Stanley, Goldman Sachs & Co. LLC, and Cowen.