The Life Sciences team advised BeiGene, Ltd. (NASDAQ: BGNE; HKEX: 06160) on the pricing of its registered direct offering of 145,838,979 ordinary shares at a purchase price of $14.2308 per share (equivalent to a price of $185 per American Depositary Share), resulting in gross proceeds of approximately $2.08 billion and net proceeds, after estimated offering expenses, of $2.07 billion. The offering was made without an underwriter or a placement agent and as a result BeiGene 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.
BeiGene is a global, commercial-stage biotechnology company focused on discovering, developing, manufacturing, and commercializing innovative medicines to improve treatment outcomes and access for patients worldwide. Our 4,100+ employees in China, the United States, Australia, and Europe are committed to expediting the development of a diverse pipeline of novel therapeutics for cancer.
The Goodwin team advising BeiGene was led by Mitchell Bloom, Edwin O’Connor, Marishka DeToy, Humza Bokhari, Josh Dell and Kathryn Weston with assistance from James Matarese and Daniel Karelitz and Benjamin Gossels.
For additional details on the offering, please read the press release.