Friday, September 25, 2020
Financing and M&A

BeiGene Raises Nearly $2.1B

BeiGene (Nasdaq : BGNE) is a commercial biotechnology company focused on the development of innovative molecular targeting and cancer immunotherapy drugs for cancer treatment and commercialize. The company announced today the pricing of the issuance of 145,838,979 shares of common stock with a par value of $0.0001 each to certain existing investors in the form of registered direct issuance.

Each common share is sold at a purchase price of $14.2308, which is equivalent to $185 per American Depositary Share (ADS). The total issuance income is about $2.08 billion, and the net income after deducting issuance expenses is $2.07 billion. There is no underwriter or placing agent for this issue, so the company does not need to pay an underwriting discount for this issue.

Subject to customary delivery conditions, the issuance is expected to be completed around July 15, 2020. BeiGene plans to invest the net income generated by this offering into the company’s working capital and other general corporate purposes. Specific details will be announced in the supplementary prospectus submitted for this offering.

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