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Slideshow Secondary Stock Offerings

By The Online Investor Staff, updated Sat., May. 8, 6:10 AM

Slide #20. Zai Lab Limited Secondary Offering

Company: Zai Lab Limited (NASDAQ:ZLAB)
Date announced: 4/19/2021
Shares Offered: 4,776,000
Date of Pricing: 4/20/2021
Price Per Share: $150.00
Secondary Offering Details: Zai Lab Limited ("Zai Lab" or the "Company") (NASDAQ:ZLAB, HKEX: 9688), an innovative commercial stage biopharmaceutical company, today announced that it has commenced an underwritten public offering of $750,000,000 of American depositary shares ("ADSs"), each representing one ordinary share of the Company. All ADSs will be offered by Zai Lab. Zai Lab expects to grant the underwriters a 30-day option to purchase additional ADSs. Investors have an option to receive ordinary shares of the Company ("Shares") in lieu of ADSs in this offering only, and such option will not be available to purchasers of the additional ADSs. -updated 4/20- Zai Lab Limited ("Zai Lab" or the "Company") (NASDAQ:ZLAB, HKEX: 9688), an innovative commercial stage biopharmaceutical company, today announced the pricing of its underwritten public offering of 4,776,000 American depositary shares ("ADSs"), each representing one ordinary share of the Company, at a price of US$150.00 per ADS, and 224,000 ordinary shares, at a price of HK$1164.20 per ordinary share, which will be settled in Hong Kong dollars, based upon each ADS representing one ordinary share and an exchange rate of HK$7.7613 to US$1.00, the spot rate of exchange at the time of pricing. The gross proceeds to Zai Lab from the offering, before deducting underwriting discounts and commissions and other offering expenses, are expected to be approximately US$750 million. Subject to customary closing conditions, the underwriters expect to deliver the ADSs against payment to the purchasers on or about April 23, 2021, on a "T+2" basis, and to deliver the ordinary shares against payment therefor through the facilities of the Central Clearing and Settlement System on or about April 28, 2021, on a "T+5" basis. In addition, Zai Lab has granted the underwriters a 30-day option to purchase up to an additional 716,400 ADSs at the public offering price, less underwriting discounts and commissions, which purchase will be settled only in ADSs.

Zai Lab is a holding company. Through its subsidiaries, Co. is a commercial-stage biopharmaceutical company focusing on discovering or licensing, developing and commercializing proprietary therapeutics that address areas of unmet medical need in the China and global markets, including in the fields of oncology, infectious and autoimmune diseases. Co.'s products are: Niraparib, a selective oral, small molecule PARP 1/2 inhibitor with the potential to be a drug for treatment across multiple solid tumor types in China; and Optune, a cancer therapy that uses electric fields tuned to specific frequencies to disrupt cell division, inhibiting tumor growth and causing affected cancer cells to die.
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Zai Lab Ltd
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Strong Buy (4.00 out of 4)
77th percentile
(ranked higher than approx. 77% of all stocks covered)

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