AsianScientist (Dec. 1, 2016) – BeiGene, Ltd., a biopharmaceutical company that develops immuno-oncology drugs, has announced the closing of its follow-on public offering of 6,250,000 American Depositary Shares (ADSs), each representing 13 of its ordinary shares, par value $0.0001 per share, at a price to the public of $32.00 per ADS.
BeiGene offered 5,781,250 ADSs, and certain selling shareholders offered 468,750 ADSs. In addition, the underwriters have been granted a 30-day option to purchase up to an additional 937,500 ADSs from BeiGene. The company intends to use proceeds from the offering for working capital and general corporate purposes, including research and development activities. BeiGene will not receive proceeds from any sale of ADSs by the selling shareholders.
Morgan Stanley, Goldman, Sachs & Co. and Cowen and Company acted as joint book-running managers. Baird and William Blair & Company, L.L.C. acted as co-managers.
A registration statement relating to these securities was filed with, and declared effective by, the Securities and Exchange Commission. The offering was made only by means of a prospectus.
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Source: BeiGene Co. Ltd..
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