Adlai Nortye Ltd. Announces Closing of Initial Public Offering
October 03 2023 - 12:05PM
Adlai Nortye Ltd. (NASDAQ: ANL) (the “Company” or “Adlai Nortye”),
a clinical-stage biotechnology company focused on the development
of innovative cancer therapies, today announced the closing of its
previously announced initial public offering of 2,500,000 American
depositary shares (“ADSs”), each representing three Class A
ordinary shares at a public offering price of US$23.00 per ADS. All
of the ADSs were offered by Adlai Nortye. In addition, Nippon
Kayaku Co., Ltd., a chemical company headquartered in Japan,
acquired a total of 5,217,391 Class A ordinary shares from Adlai
Nortye in a private placement concurrent with the closing of the
public offering at the same per share purchase price. Adlai Nortye
received aggregate gross proceeds of US$57.5 million from the
public offering (before deducting underwriting discounts and
commissions and offering expenses) and US$40.0 million from the
concurrent private placement.
The ADSs began trading on the Nasdaq Global
Market on September 29, 2023 under the ticker symbol “ANL”.
Cantor Fitzgerald & Co. acted as sole
book-running manager for the public offering.
A registration statement relating to the
publicly offered securities has been filed with the U.S. Securities
and Exchange Commission ("SEC”) and became effective on September
28, 2023. The public offering was made only by means of a written
prospectus. A copy of the final prospectus relating to the public
offering may be obtained from: Cantor Fitzgerald & Co.,
Attention: Capital Markets, 110 East 59th Street., 6th Floor, New
York, New York 10022, or by email at prospectus@cantor.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 Adlai NortyeAdlai Nortye
is a global clinical-stage biotechnology company focused on the
discovery and development of innovative cancer therapies for
patients across the spectrum of tumor types, with global R&D
centers established in New Jersey and Hangzhou. With a strategic
emphasis on oncology. The Company has identified and developed a
robust pipeline of six drug candidates.
Adlai Nortye has assembled a management team and
a scientific advisory board with industry leaders and influential
scientists, who provide international and strategic guidance to its
R&D, business development, and operational teams. In addition
to building its own R&D capabilities, the Company continues to
seek and secure partnerships with leading multi-national
pharmaceutical companies such as Eisai and Novartis, to fully
realize the potential of its pipeline programs. The Company strives
to become a global leader in the next wave of immuno-oncology
therapies employing a combination therapy strategy. Its ultimate
goal is to transform deadly cancer into a chronic and eventually
curable disease.
Forward-Looking and Cautionary
StatementsThis press release contains statements that
constitute “forward-looking statements,” including with respect to
the proposed initial public offering and the concurrent private
placement. No assurance can be given that the offering discussed
above will be completed on the terms described, or at all.
Forward-looking statements are subject to numerous conditions, many
of which are beyond the control of the Company, including those set
forth in the Risk Factors section of the Company’s registration
statement and prospectus for the Company’s offering filed with the
SEC. Copies are available on the SEC’s website, www.sec.gov. The
Company undertakes no obligation to update these statements for
revisions or changes after the date of this release, except as
required by law.
Contacts:Investor
Relations:Charles ZhouAmanda Kong
Adlai Nortye Ltd.ir@adlainortye.com
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