AnPac Bio Announces Pricing of Approximately $2.9 Million Underwritten Public Offering of American Depositary Shares
November 09 2021 - 11:55PM
AnPac Bio-Medical Science Co., Ltd. (NASDAQ: ANPC, the “Company”),
a biotechnology company with operations in China and the United
States focusing on early cancer screening and detection, today
announced the pricing of an underwritten public offering of
1,301,928 of its American Depositary Shares (“ADSs”) at a public
offering price of $2.22 per share, for gross proceeds to the
Company of approximately $2.9 million, before deducting the
underwriting discount and other offering expenses payable by the
Company. This includes the full exercise of the underwriter’s
over-allotment option.
EF Hutton, division of Benchmark Investments,
LLC is acting as the sole book-running manager for the offering.
The offering is expected to close on or about November 12, 2021,
subject to customary closing conditions.
The shares of ADSs described above are being
offered by AnPac Bio-Medical Science Co., Ltd. pursuant to a
"shelf" registration statement on Form F-3 (File No. 333-256630)
that became effective with the Securities and Exchange Commission
(SEC) on June 7, 2021, the base prospectus contained therein and
the accompanying prospectus supplement.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy any of the
securities described herein, 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 AnPac BioAnPac Bio is a
biotechnology company focused on early cancer screening and
detection, with 148 issued patents as of June 30, 2021. With one
CLIA and CAP registered clinical laboratory in the United States
and two certified clinical laboratories in China, AnPac Bio
performs a suite of cancer screening and detection tests, including
CDA (Cancer Differentiation Analysis), biochemical, immunological
and genomics tests. According to a Frost & Sullivan’s report
issued in 2020, AnPac Bio ranked third worldwide among companies
offering next-generation early cancer screening and detection
technologies in terms of the number of clinical samples for cancer
screening and detection in 2019. The Company has a significant
cancer screening and detection database consisting of approximately
43,900 clinical samples as of March 31, 2021. AnPac Bio’s CDA
technology platform has been shown in retrospective validation
studies to be able to detect the risk of over 20 different cancer
types with high sensitivity and specificity.
For more information, please visit:
https://www.AnPacBio.com.
Forward-Looking StatementsThis
press release contains statements that constitute “forward-looking
statements,” including with respect to the Company’s proposed
offering. No assurance can be given that the offering discussed
above will be completed on the terms described, or at all, or that
the net proceeds of the offering will be used as indicated.
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 preliminary prospectus supplement and prospectus for
the 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.
For investor and media inquiries, please
contact:
Company:Phil Case, Marketing and Investor RelationsPhone:
+1-267-810-6776 (US)Email: phil_case@AnPacBio.com
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