Ascentage Pharma announced on February 7, 2025, that the underwriters of its U.S. initial public offering partially exercised their over-allotment option. This resulted in the purchase of an additional 935,144 American depositary shares (ADSs) at the initial public offering price of $17.25 per ADS.
Following this exercise, the total number of ADSs sold by Ascentage Pharma in the offering increased to 8,260,144 ADSs. The aggregate gross proceeds to the company reached approximately $142.5 million, before deducting underwriting discounts and commissions and other offering expenses.
This additional capital infusion demonstrates continued investor confidence in Ascentage Pharma's prospects and strengthens its financial position. The funds will support ongoing research and development, as well as commercialization efforts for its oncology pipeline.
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