SINGAPORE, March 03, 2021 (GLOBE NEWSWIRE) -- ASLAN Pharmaceuticals (Nasdaq: ASLN), a clinical-stage immunology focused biopharmaceutical company developing innovative treatments to transform the lives of patients, today announced the pricing of an underwritten public offering of 15,000,000 American Depositary Shares (“ADSs”) representing 75,000,000 ordinary shares at a price to the public of $4.00 per ADS. The gross proceeds from this offering are expected to be $60.0 million, before deducting the underwriting discounts and commissions and estimated offering expenses payable by ASLAN. The offering is expected to close on or about March 5, 2021, subject to customary closing conditions. In addition, ASLAN has granted the underwriters a 30-day option to purchase up to 2,250,000 additional ADSs at the public offering price, less the underwriting discounts and commissions.
ASLAN expects to use the net proceeds from the offering, together with its existing cash and cash equivalents, primarily to fund its planned ASLAN004 Phase 2b dose-range-finding trial in moderate-to-severe atopic dermatitis patients. ASLAN is also required to repay $2.25 million of principal amount plus accrued and unpaid interest under its loan facilities entered into in October and November 2019 with the net proceeds from this offering. The remainder of the net proceeds, if any, will be used to fund new and other ongoing research and development activities, working capital and other general corporate purposes.
Jefferies LLC and Piper Sandler & Co. are acting as joint book-running managers for the offering. H.C. Wainwright & Co. is acting as lead manager for the offering.
The securities described above are being offered by ASLAN pursuant to a shelf registration statement on Form F-3, including a base prospectus, that was previously filed by ASLAN with the Securities and Exchange Commission (the “SEC”) and that was declared effective on February 11, 2021. A final prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and will be available for free on the SEC’s website located at http://www.sec.gov. Before you invest, you should read the final prospectus supplement and accompanying prospectus and other documents ASLAN has filed with the SEC for more complete information about ASLAN and this offering. An electronic copy of the final prospectus supplement and the accompanying prospectus relating to the offering, when available, may be obtained by contacting Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by e-mail at prospectus_department@jefferies.com or by telephone at (877) 821-7388; or Piper Sandler & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, or by telephone at 800-747-3924 or by email at prospectus@psc.com.