Caixin News Agency, November 15th - Zaiding Pharmaceutical (09688/ZLAB) announced plans to issue 7.84 million American Depositary Shares, representing 78.43 million related shares, at a price of $25.5 per share. This offering is expected to be delivered on November 18, 2024. Assuming all options are exercised, it will increase the company's common stock by approximately 9.06%. If the option cannot be exercised, the relevant shares will account for approximately 8.30% of the existing issued ordinary shares.
The announcement states that the expected proceeds from this sale are between $200 million and $230 million, with a net amount expected to be between $188 million and $216 million. The company plans to use the net funds for general corporate purposes to enhance liquidity and support business development. In addition, the offering price is discounted by approximately 4.39% and 10.64% compared to the closing prices of Nasdaq and the Hong Kong Stock Exchange, respectively.