Ascentage Pharma announced the closing of its U.S. initial public offering on January 28, 2025, with its American depositary shares (ADSs) beginning trading on the Nasdaq Global Market on January 24, 2025. The company sold 7,325,000 ADSs at a public offering price of $17.25 per ADS, generating gross proceeds of approximately $126.4 million before deductions.
Each ADS represents four ordinary shares of Ascentage Pharma. The company also granted underwriters a 30-day option to purchase up to an additional 1,098,750 ADSs at the IPO price.
This IPO marks a significant milestone for Ascentage Pharma, providing substantial capital to advance its pipeline and commercialization efforts. Listing on Nasdaq enhances its global visibility and access to a broader investor base.
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