ASLAN Pharmaceuticals Announces Pricing of $12.8 Million Public Offering of American Depositary Shares
December 03 2019 - 1:00AM
ASLAN Pharmaceuticals Limited (Nasdaq:ASLN, TPEx:6497), a
clinical-stage oncology and immunology focused biopharma company,
today announced that it has priced its previously announced
underwritten public offering of 5,124,527 American Depositary
Shares (“ADSs”) at a public offering price of $2.50 per ADS. Each
ADS represents five ordinary shares of ASLAN. The gross proceeds to
ASLAN, before deducting underwriting discounts, commissions and
other offering expenses, are expected to be approximately $12.8
million. All of the ADSs in the offering are being sold by ASLAN.
In addition, ASLAN has granted the underwriter an option,
exercisable at any time through and until one day before the
closing date of this offering, to purchase up to an additional
768,679 ADSs at the public offering price, less the underwriting
discounts and commissions. The offering is expected to close on or
about 5 December 2019, subject to customary closing conditions. The
aggregate offering amount, including the underwriter’s option,
reflects the maximum market value of securities that ASLAN is
allowed to sell under “baby shelf” rules currently applicable to
its effective shelf registration statement on Form F-3.
ASLAN intends to use the net proceeds from the offering,
together with its existing cash and cash equivalents, to fund the
clinical development of ASLAN004 and ASLAN003 and for general
corporate purposes.
H.C. Wainwright & Co. is acting as sole book-running manager
for the offering.
The securities described above are being offered by ASLAN
pursuant to a shelf registration statement on Form F-3, including a
base prospectus, that was previously filed by ASLAN with
the Securities and Exchange Commission (the “SEC”) and
that was declared effective on November 8, 2019. A final
prospectus supplement and accompanying prospectus relating to the
offering will be filed with the SEC and will be available
for free on the SEC’s website located
at http://www.sec.gov. An electronic copy of the
final prospectus supplement and the accompanying prospectus
relating to the offering, when available, may be obtained from H.C.
Wainwright & Co., LLC, 430 Park Avenue, 3rd Floor, New York, NY
10022, by calling (646) 975-6996 or emailing
placements@hcwco.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation, or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About ASLAN Pharmaceuticals
ASLAN Pharmaceuticals (Nasdaq:ASLN, TPEx:6497) is a
clinical-stage oncology and immunology focused biopharma company
targeting diseases that are either more prevalent in Asia, where
the availability of suitable patients is greater or there are fewer
competing studies. Led by a senior management team with extensive
experience in global and regional development and
commercialisation, ASLAN is headquartered in Singapore and has a
clinical portfolio comprised of one monoclonal antibody therapy
targeting inflammatory disease and two small molecule inhibitors
targeting oncology. ASLAN’s partners include Array BioPharma,
Bristol-Myers Squibb, Almirall and CSL. For additional information
please visit www.aslanpharma.com.
Forward Looking Statements
This press release contains forward-looking statements regarding
ASLAN’s current expectations. These forward-looking statements
include, without limitation, references to ASLAN’s expectations
regarding the intended use of net proceeds from the public
offering, the timing and completion of the public offering, and the
risk that the public offering will not be consummated. These
statements are not guarantees of future performance and are subject
to certain risks, uncertainties and assumptions that are difficult
to predict. Factors that could cause actual results to differ
include, but are not limited to, market conditions, risks and
uncertainties related to completion of the public offering and the
satisfaction of customary closing conditions related to the public
offering. These and other risks and uncertainties, which include,
without limitation the risk factors described in ASLAN’s SEC
filings and reports, including ASLAN’s Annual Report on Form 20-F
for the year ended December 31, 2018 filed with the SEC on April
29, 2019 and other filings with the SEC. Forward-looking
statements contained in this announcement are made as of this date,
and ASLAN undertakes no duty to update such information except as
required under applicable law.
Media contact
Emma ThompsonSpurwing CommunicationsTel: +65 6571
2021Email: ASLAN@spurwingcomms.com |
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