Zai Lab Ltd. (ZLAB), Monday announced the expected closing of its previously announced underwritten public offering of around 7.8 million American depositary shares at $25.50 per ADS.
The company added that underwriters had fully exercised their option to purchase an additional approximately 1.2 million ADSs.
Overall, Zai Lab has sold about 9.02 million ADSs in the offering, which is expected to raise around $230 million in gross proceeds.
The company expects to close the sale of additional ADSs pursuant to the exercise of the option to purchase additional ADSs on November 19.
Currently, Zai Lab's stock is moving down $25.27, down 6.69 percent on the Nasdaq.
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