Benzinga | Jul 12, 2020 08:27PM EDT

BeiGene Prices 145.8M Share Registered Direct Offering @$14.23/Share

BeiGene, Ltd. (NASDAQ:BGNE) today announced the pricing of a registered direct offering of 145,838,979 ordinary shares, par value $0.0001 per share (the "Ordinary Shares"), to certain existing investors.

Each Ordinary Share is being sold for a purchase price of $14.2308 per share (equivalent to a price of $185 per American Depositary Share ("ADS")), resulting in gross proceeds of approximately $2.08 billion and net proceeds, after estimated offering expenses, of $2.07 billion. The offering is being made without an underwriter or a placement agent and as a result the Company will not be paying any underwriting discounts in connection with this offering.

The offering is expected to close on or about July 15, 2020, subject to customary closing conditions. BeiGene intends to use the net proceeds from the offering for working capital and other general corporate purposes, as disclosed in further detail in the prospectus supplement to be filed in connection with the offering.

The Ordinary Shares were offered pursuant to an automatically effective shelf registration statement that was previously filed with the U.S. Securities and Exchange Commission (the "SEC") on May 11, 2020. The final prospectus supplement relating to the offering will be filed with the SEC and will be available on the SEC's website at www.sec.gov.

Credit Suisse is acting as corporate finance advisor to the pricing committee of the Board of Directors of BeiGene in connection with this offering. Goodwin Procter LLP is acting as legal counsel to BeiGene in connection with this offering.