NEW
YORK, April 6, 2023 /PRNewswire/-- AnPac
Bio-Medical Science Co., Ltd. (the "Company") (NASDAQ: ANPC), a
company with operations in the United
States and China focused on
early cancer screening and detection and plans to enter into the
operation of a business-to-business e-commerce food platform
focused on the sale of Asian sourced food products, today announced
the closing of its previously announced registered direct offering
pursuant to a securities purchase agreement with certain
institutional investors to purchase $3.0
million of its American Depositary Shares ("ADSs"),
pre-funded warrants to purchase ADSs and warrants to purchase
ADSs. The Company plans to use the net proceeds from the
offering for the advancement of our research and development
activities, working capital and general corporate purposes.
In connection with such offering, the Company sold to the
institutional investors a total of 625,000 ADSs priced at
$4.00 per ADS, pre-funded warrants
exercisable for 125,000 ADSs and warrants exercisable for 750,000
ADSs. The purchase price of each pre-funded warrant is equal to the
offering price per ADS, minus $0.0001, and the exercise price of each
pre-funded warrant is equal $0.0001
per share. The pre-funded warrants are immediately exercisable and
may be exercised at any time until exercised in full. The warrants
are immediately exercisable, expire five (5) years from the
original issuance date and have an exercise price of $4.00 per ADS. The Company also issued to Univest
Securities, LLC, which acted as the sole placement agent for the
offering, warrants exercisable for 37,500 ADSs, with an exercise
price of $4.80.
The gross proceeds to the Company from the registered direct
offering were approximately $3.0
million before deducting the placement agent's fees and
other offering expenses.
The ADSs, the pre-funded warrants, the warrants and the ADSs
underlying the pre-funded warrants, the warrants and the placement
agent's warrants were offered pursuant to a prospectus supplement
to a shelf registration statement on Form F-3 (File No. 333-256630)
previously filed and declared effective by the U.S. Securities and
Exchange Commission ("SEC") on June 7,
2021 (the "Shelf Registration Statement"). Such offering was
made only by means of such prospectus supplement, which was filed
by the Company with the SEC on April 4,
2023.
Univest Securities, LLC acted as the sole placement agent for
this offering.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy, nor will there be any sales of
such securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of such jurisdiction.
Copies of the prospectus supplement relating to the registered
direct offering, together with the accompanying base prospectus,
can be obtained at the SEC's website at www.sec.gov.
About AnPac Bio-Medical Science Co.,
Ltd.
AnPac Bio-Medical Science Co., Ltd. is a biotechnology company
focused on early cancer screening and detection, with 155 issued
patents as of March 31, 2023. With
two certified clinical laboratories in China and one CLIA and CAP accredited clinical
laboratory in the United States,
AnPac Bio performs a suite of cancer screening and detection tests,
including CDA (Cancer Differentiation Analysis), bio-chemical,
immunological, and genomics tests. The Company intends to enter the
business-to-business e-commerce food business with the formation of
its wholly-owned subsidiary Fresh2 Technology Inc and the
acquisition of Fresh2 Ecommerce Inc.
For investor and media inquiries, please contact:
Ascent Investor Relations LLC
Tina Xiao
Phone: +1-917-609-0333 (U.S.)
Email: tina.xiao@ascent-ir.com
Safe Harbor Statement
This announcement contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. These
forward-looking statements are made under the "safe harbor"
provisions of the Private Securities Litigation Reform Act of 1995
and are relating to the Company's future financial and operating
performance. The Company has attempted to identify forward-looking
statements by terminologies including "believes," "estimates,"
"anticipates," "expects," "plans," "projects," "intends,"
"potential," "target," "aim," "predict," "outlook," "seek," "goal"
"objective," "assume," "contemplate," "continue," "positioned,"
"forecast," "likely," "may," "could," "might," "will," "should,"
"approximately" or other words that convey uncertainty of future
events or outcomes to identify these forward-looking statements.
These statements are based on current expectations, assumptions and
uncertainties involving judgments about, among other things, future
economic, competitive and market conditions and future business
decisions, all of which are difficult or impossible to predict
accurately and many of which are beyond the Company's control.
These statements also involve known and unknown risks,
uncertainties and other factors that may cause the Company's actual
results to be materially different from those expressed or implied
by any forward-looking statement. Known and unknown risks,
uncertainties and other factors include, but are not limited to,
our ability to comply with Nasdaq Listing Rules including maintain
our listing on the Nasdaq Capital Market, the implementation of our
business model and growth strategies; trends and competition in the
cancer screening and detection market; our expectations regarding
demand for and market acceptance of our cancer screening and
detection tests and our ability to expand our customer base; our
ability to obtain and maintain intellectual property protections
for our CDA technology and our continued research and development
to keep pace with technology developments; our ability to obtain
and maintain regulatory approvals from the NMPA, the FDA and the
relevant U.S. states and have our laboratories certified or
accredited by authorities including the CLIA; our future business
development, financial condition and results of operations and our
ability to obtain financing cost-effectively; potential changes of
government regulations; general economic and business conditions in
China and elsewhere; our ability
to hire and maintain key personnel; our relationship with our major
business partners and customers; and the duration of the
coronavirus outbreaks and their potential adverse impact on the
economic conditions and financial markets and our business and
financial performance, such as resulting from reduced commercial
activities due to quarantines and travel restrictions instituted by
China, the U.S. and many other
countries around the world to contain the spread of the virus. A
number of these risks along with additional discussion of
forward-looking statements, are set forth in the Company's Annual
Report on Form 20-F and other reports filed with the SEC. In
addition, there is uncertainty about the spread of the COVID19
virus and the impact it will have on the Company's operations,
global supply chains and economic activity in general. Because of
these and other risks, uncertainties and assumptions, undue
reliance should not be placed on these forward-looking statements.
In addition, these statements speak only as of the date of this
press release and, except as may be required by law, the Company
undertakes no obligation to revise or update publicly any
forward-looking statements for any reason.
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SOURCE AnPac Bio-Medical Science Co., Ltd.