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BeOne Medicines Ltd. 8-K Report, Material Agreement (Aug 3, 2018)

Filed August 3, 2018For Securities:ONCBEIGF

Summary

BeOne Medicines Ltd. (ONC), now operating as BeiGene, Ltd., announced on August 2, 2018, the pricing of a significant global offering of ordinary shares. The offering is expected to raise approximately US$903 million before expenses, with the issuance of 65,600,000 ordinary shares at HK$108.00 per share (approximately US$13.76). This move represents a dual listing strategy, as the company's ordinary shares are set to begin trading on the Main Board of The Stock Exchange of Hong Kong Limited (SEHK) under the stock code '06160' on August 8, 2018. This complements their existing listing of American Depositary Shares (ADSs) on the NASDAQ under the symbol 'BGNE'. The company has entered into an International Underwriting Agreement to facilitate this offering, which is subject to customary closing conditions. Investors should note that this offering is subject to market conditions and potential risks, as detailed in the company's SEC filings. The proceeds from this offering will bolster BeiGene's financial position, enabling further investment in its operations and growth initiatives.

Key Highlights

  • 1BeiGene, Ltd. (ONC) priced a global offering of 65,600,000 ordinary shares.
  • 2The offering is expected to generate gross proceeds of approximately US$903 million.
  • 3Shares are priced at HK$108.00 per share, equivalent to approximately US$13.76.
  • 4The company's ordinary shares will be dual-listed, trading on the Hong Kong Stock Exchange (SEHK) starting August 8, 2018.
  • 5This offering complements the existing listing of BeiGene's ADSs on the NASDAQ.
  • 6An International Underwriting Agreement has been executed, with customary representations and indemnifications.
  • 7The offering is subject to market conditions and customary closing conditions.

Frequently Asked Questions

This 8-K filing announces the pricing of a global offering of ordinary shares by BeiGene, Ltd. (formerly BeOne Medicines Ltd.), detailing the number of shares, offering price, expected gross proceeds, and the dual listing strategy on the Hong Kong Stock Exchange in addition to its existing NASDAQ listing.

BeiGene, Ltd. is expected to raise approximately US$903 million in gross proceeds from this global offering, before deducting underwriting discounts and commissions and other offering expenses.

The ordinary shares are expected to begin trading on the Main Board of The Stock Exchange of Hong Kong Limited (SEHK) on August 8, 2018, under the stock code '06160'.

Investors should be aware that the offering is subject to market and other conditions, and there can be no assurance as to whether or when it will be completed. Potential risks include unmet closing conditions, adverse market conditions, higher-than-planned offering expenses, and potential failure of parties to fully perform their obligations under the underwriting agreement, as well as other risks identified in the company's SEC filings.