GAITHERSBURG, Md. - YS Biopharma Co., Ltd. (NASDAQ: YS), a global biopharmaceutical company specializing in vaccines and therapeutic biologics for infectious diseases and cancer, announced today a private placement deal valued at $40M. The agreement, involving an institutional investor, will see the issuance of 95,269,762 ordinary shares at a price of $0.41986 per share.
The transaction is aimed at bolstering the company's financial position by enhancing liquidity and supporting core operations and business growth. Dr. David Shao, the President and CEO of YS Biopharma, highlighted that the capital raised through this equity financing, which does not involve any issuance of warrants or options, aligns investor interests with those of existing shareholders.
The shares in this private placement are exempt from the registration requirements of the Securities Act of 1933 under Regulation S. The deal follows the dismissal of an injunction order by the Grand Court of the Cayman Islands on December 22, 2023. The purchase agreement includes standard representations, warranties, covenants, and indemnification provisions typical for such transactions. Furthermore, the investor has been granted customary registration rights for the shares.
This press release contains forward-looking statements regarding the company's expectations for growth, product development, clinical trials, talent acquisition, and financial positioning. These statements are based on current management expectations and are not guarantees of future performance. YS Biopharma's forward-looking statements involve risks and uncertainties, including those detailed in the company's most recent annual report and other SEC filings.
Investors are cautioned that such forward-looking statements are subject to various assumptions and inherent risks, and there is no assurance that the anticipated results will be realized. The company does not currently intend to update these statements, except as required by law.
This announcement is based on a press release statement and does not constitute an offer to sell or a solicitation of an offer to buy any securities. The sale of these securities would be unlawful in any jurisdiction where such an offer, solicitation, or sale is prohibited prior to registration or qualification under the securities laws of that jurisdiction.
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