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CNTB - Connect Biopharma Holdings News Story

$22.1 0.1  0.5%

Last Trade - 28/07/21

Sector
Healthcare
Size
Mid Cap
Market Cap £887.6m
Enterprise Value £1.12bn
Revenue £n/a
Position in Universe 2702nd / 7008

Connect Biopharma Holdings Limited announces pricing of Initial Public Offering

Fri 19th March, 2021 3:58am
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SAN DIEGO and TAICANG, China, March 18, 2021 (GLOBE NEWSWIRE) -- Connect
Biopharma Holdings Limited (the “Company”), a global clinical-stage
biopharmaceutical company dedicated to improving the lives of patients with
chronic inflammatory diseases through the development of therapies derived
from T-cell-driven research, today announced the pricing of its initial public
offering of 11,250,000 American Depositary Shares (“ADSs”), representing
11,250,000 ordinary shares of the Company, at a public offering price of
US$17.00 per ADS.

All of the ADSs are being offered by the Company. The Company has granted the
underwriters an option to purchase up to an additional 1,687,500 ADSs within
30 days from the date of the final prospectus at the initial public offering
price, less underwriting discounts and commissions. The gross proceeds of the
offering, before deducting underwriting discounts and commissions and other
offering expenses payable by the Company, are expected to be approximately
US$191.3 million, assuming the underwriters do not exercise their option to
purchase additional ADSs, or approximately US$219.9 million, if the
underwriters choose to exercise their option to purchase additional ADSs in
full.

The ADSs are expected to begin trading on the Nasdaq Global Market on March
19, 2021 under the ticker symbol “CNTB.” The offering is expected to close
on March 23, 2021, subject to customary closing conditions.

Jefferies LLC, SVB Leerink LLC, Piper Sandler & Co. and China International
Capital Corporation Hong Kong Securities Limited are acting as joint
book-running managers for this offering.

The Company’s registration statement related to the offering has been filed
with, and declared effective by, the U.S. Securities and Exchange Commission.
The offering will be made only by means of a prospectus. Copies of the
prospectus related to the offering may be obtained from (i) Jefferies LLC,
Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd
Floor, New York, NY 10022, by telephone at 1-877-821-7388, or by email at
Prospectus_Department@jefferies.com; (ii) SVB Leerink LLC, Attention:
Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110,
telephone: 1-800-808-7525 ex. 6105 or email: syndicate@svbleerink.com; (iii)
Piper Sandler & Co., Attention: Prospectus Department, 800 Nicollet Mall,
J12S03, Minneapolis, Minnesota 55402, by telephone at 1-800-747-3924, or by
e-mail at prospectus@psc.com; or (iv) China International Capital Corporation
Hong Kong Securities Limited, Address: 29th Floor, One International Finance
Centre, 1 Harbour View Street, Central, Hong Kong, by telephone at
852-2872-2000 or by email at ECM_Project_Kayak@cicc.com.cn.

This press release shall not constitute an offer to sell or a solicitation of
an offer to buy the securities described herein, nor shall there be any sale
of these securities in any state or jurisdiction in which such an offer,
solicitation, or sale would be unlawful prior to registration or qualification
under the securities laws of any such state or jurisdiction.

About Connect Biopharma Holdings Limited

Connect Biopharma Holdings Limited is a global clinical-stage
biopharmaceutical company dedicated to improving the lives of patients living
with chronic inflammatory diseases through the development of therapies
derived from our T cell-driven research.

Our lead product candidate, CBP-201, is an antibody designed to target
interleukin-4 receptor alpha (IL-4Rα), which is a validated target for the
treatment of several inflammatory diseases such as atopic dermatitis (AD) and
asthma. Our second lead product candidate is CBP-307, a modulator of a T cell
receptor known as sphingosine 1-phosphate receptor 1 (S1P1).

IR/PR Contacts:
Lazar FINN Partners 
David Carey (IR) 
T: +1-(212) 867-1768
david.carey@finnpartners.com

Erich Sandoval (Media)
T: +1-(917)-497-2867
erich.sandoval@finnpartners.com

Corporate Contacts:
info@connectpharm.com

(https://www.globenewswire.com/NewsRoom/AttachmentNg/b94aab73-2268-41ee-a5e2-9ef8aba3b2bb)



GlobeNewswire, Inc. 2021
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