SHANGHAI and SAN FRANCISCO, Sept. 22, 2020 (GLOBE NEWSWIRE) — Zai Lab Restricted (“Zai Lab” or the “Corporate”) (NASDAQ: ZLAB), an cutting edge business level biopharmaceutical corporate, as of late introduced the pricing of the Hong Kong secondary record (the “Hong Kong Secondary Checklist”) of 10,564,050 new atypical stocks (the “Be offering Stocks” or “Stocks”) which incorporates a global providing (the “Global Providing”) and a Hong Kong public providing (the “Hong Kong Public Providing”). The general be offering worth for each the Global Providing and the Hong Kong Public Providing (the “Be offering Worth”) has been set at HK$562.00 according to Percentage. In keeping with the ratio of 1 (1) atypical stocks according to Nasdaq-listed American depositary percentage (“ADS”), the Be offering Worth interprets to roughly US$72.52 according to ADS. The Corporate has set the abovementioned be offering worth via taking into account, amongst different elements, the final worth of the ADSs on September 21, 2020 (the newest buying and selling day earlier than pricing). Matter to approval from The Inventory Alternate of Hong Kong Restricted (the “Hong Kong Inventory Alternate”), the Stocks are anticipated to start buying and selling at the Major Board of the Hong Kong Inventory Alternate on September 28, 2020 underneath the inventory code “9688” The Hong Kong Secondary Checklist is anticipated to near at the similar day, matter to standard final prerequisites.
The gross proceeds to the Corporate from the Hong Kong Secondary Checklist, earlier than deducting underwriting charges and the providing bills, are anticipated to be roughly HK$5.94 billion. As well as, the Corporate has granted the global underwriters an over-allotment possibility, exercisable from September 22, 2020 till 30 days thereafter, to require the Corporate to factor as much as an extra 1,584,600 new Stocks on the Be offering Worth.
The Corporate’s ADSs representing the atypical stocks will proceed to be indexed and traded on NASDAQ. Upon the secondary record in Hong Kong, the Hong Kong-listed atypical stocks shall be absolutely fungible with the atypical stocks represented via the ADSs indexed at the NASDAQ.
The Corporate plans to make use of the online proceeds from the Hong Kong Secondary Checklist to (i) allocate to R&D efforts in recognize to, and commercialization for, its core merchandise, (ii) fund its ongoing and deliberate scientific trials and preparation for registration filings of alternative drug applicants in its pipeline, (iii) discover new world licensing and collaboration alternatives and herald probably world best-in-class/first-in-class belongings with scientific validation, synergistic with its present pipeline and aligned to its experience, (iv) proceed making an investment in and increasing its interior discovery pipeline and recruit and educate high-caliber skill globally; and (v) fund running capital and different basic company functions.
J.P. Morgan Securities (A long way East) Restricted (or its associates, because the case is also), Goldman Sachs (Asia) L.L.C. and Citigroup World Markets Asia Restricted (or its associate, because the case is also) are the joint sponsors, joint world coordinators, joint bookrunners and joint lead managers for the proposed Hong Kong Secondary Checklist.
The Global Providing is being made most effective by the use of a initial prospectus complement dated September 16, 2020 and the accompanying prospectus incorporated in an automated shelf registration remark on Shape F-3ASR filed with the U.S. Securities and Alternate Fee (the “SEC”) on March 29, 2019 and used to be due to this fact amended and become routinely efficient upon submitting with the SEC on January 21, 2020. The registration remark on Shape F-3ASR and the initial prospectus complement dated September 16, 2020 are to be had on the SEC web site at: http://www.sec.gov. The general prospectus complement shall be filed with the SEC and shall be to be had at the SEC’s web site at: http://www.sec.gov. When to be had, copies of the overall prospectus complement and the accompanying prospectus when it comes to the providing can be got from: (i) J.P. Morgan Securities LLC, Consideration: Broadridge Monetary Answers, 1155 Lengthy Island Street, Edgewood, NY 11717, via phone at 1-866-803-9204 or via e mail at [email protected], (ii) Goldman Sachs & Co. LLC, Consideration: Prospectus Division, 200 West Side road, New York, NY 10282 or via phone at 1-866-471-2526, or (iii) Citigroup World Markets Inc., c/o Broadridge Monetary Answers, 1155 Lengthy Island Street, Edgewood, NY 11717, via phone at 1-800-831-9146 or via e mail at [email protected]
This press unencumber shall no longer represent an be offering to promote or the solicitation of an be offering or a call for participation to shop for any securities, nor shall there be any be offering or sale of those securities in any state or different jurisdiction through which such be offering, solicitation or sale can be illegal previous to the registration or qualification underneath the securities regulations of one of these state or different jurisdiction. This press unencumber does no longer represent a prospectus (together with as outlined underneath the regulations of Hong Kong) and doable traders will have to learn the prospectus of the Corporate for detailed details about the Corporate and the proposed providing, earlier than deciding whether or not or to not put money into the Corporate. This press unencumber has no longer been reviewed or licensed via the Hong Kong Inventory Alternate or the Securities and Futures Fee of Hong Kong.
The cost of the Stocks of the Corporate is also stabilized based on the Securities and Futures (Worth Stabilization) Regulations. The main points of the meant stabilization and the way it’ll be regulated underneath the Securities and Futures Ordinance (Bankruptcy 571 of the regulations of Hong Kong) were contained within the prospectus of the Corporate dated September 17, 2020.
About Zai Lab
Zai Lab (NASDAQ:ZLAB) is an cutting edge business level biopharmaceutical corporate excited about bringing transformative drugs for most cancers, infectious and autoimmune sicknesses to sufferers in China and world wide. To briefly goal the massive, fast-growing segments of China’s pharmaceutical marketplace and cope with unmet scientific wishes, Zai Lab’s skilled workforce has secured partnerships with main world biopharma firms, producing a extensive pipeline of cutting edge drug applicants. Zai Lab has additionally constructed an in-house workforce with sturdy drug discovery and translational analysis functions, aiming to determine an international pipeline of proprietary drug applicants towards objectives in our focal point spaces. Zai Lab’s imaginative and prescient is to develop into a completely built-in biopharmaceutical corporate, finding, creating, production and commercializing its portfolio in an effort to affect human well being international.
For additional info in regards to the corporate, please discuss with www.zailaboratory.com or apply us at www.twitter.com/ZaiLab_Global.
Zai Lab Ahead-Having a look Statements
This press unencumber accommodates statements about long run expectancies, plans and potentialities for Zai Lab, together with, with out limitation, statements relating to trade technique, plans and goals for long run operations. Such statements represent forward-looking statements throughout the which means of the Personal Securities Litigation Reform Act of 1995. Ahead-looking statements aren’t statements of historic reality nor are they promises or assurances of long run efficiency. Ahead-looking statements are in response to Zai Lab’s expectancies and assumptions as of the date of this press unencumber and are matter to inherent uncertainties, dangers and adjustments in instances that can fluctuate materially from the ones pondered via the forward-looking statements. Precise effects would possibly fluctuate materially from the ones indicated via such forward-looking statements because of more than a few vital elements, together with however no longer restricted to (1) Zai Lab’s talent to procure further long run investment, (2) Zai Lab’s result of scientific and pre-clinical construction of its drug applicants, (3) the content material and timing of selections made via the related regulatory government relating to regulatory approvals of Zai Lab’s drug applicants, (4) Zai Lab’s talent to generate earnings from its drug applicants, (5) the results of the radical coronavirus (COVID-19) pandemic on basic financial, regulatory and political prerequisites and (6) different elements mentioned in Zai Lab’s Annual File on Shape 20-F for the fiscal yr ended December 31, 2019, filed on April 29, 2020, and its different filings with the Securities and Alternate Fee. Zai Lab anticipates that next occasions and traits will purpose Zai Lab’s expectancies and assumptions to modify and undertakes no legal responsibility to publicly replace or revise any forward-looking statements, whether or not because of new knowledge, long run occasions or in a different way, excluding as is also required via legislation. Those forward-looking statements will have to no longer be relied upon as representing Zai Lab’s perspectives as of any date next to the date of this press unencumber.
For more info, please touch:
ZAI LAB CONTACTS:
Billy Cho, CFO
+86 137 6151 2501