Structure Therapeutics Announces Pricing of Upsized Initial Public Offering
Structure Therapeutics Inc. (NASDAQ: GPCR) has successfully priced its upsized initial public offering (IPO) of 10,740,000 American depositary shares (ADSs) at $15.00 per ADS, anticipating gross proceeds of approximately $161.1 million. The offering includes a 30-day option for underwriters to purchase an additional 1,611,000 ADSs. Trading on the Nasdaq Global Market is set to begin on February 3, 2023, with completion expected by February 7, 2023. Structure Therapeutics focuses on developing novel oral therapeutics for metabolic and pulmonary diseases, leveraging a structure-based drug discovery platform.
- Gross proceeds from the IPO expected to be $161.1 million, enhancing capital for business operations.
- The offering includes an option for underwriters to purchase additional ADSs, indicating potential demand.
- Dilution risk for existing shareholders due to the issuance of new ADSs.
SAN FRANCISCO and SHANGHAI, China, Feb. 02, 2023 (GLOBE NEWSWIRE) -- Structure Therapeutics Inc. (NASDAQ: GPCR), a clinical-stage global biopharmaceutical company developing novel oral small molecule therapeutics for metabolic and pulmonary diseases, today announced the pricing of its upsized initial public offering of 10,740,000 American depositary shares (ADSs), each representing three ordinary shares, at a public offering price of
Jefferies, SVB Securities, Guggenheim Securities, and BMO Capital Markets are acting as joint book-running managers for the offering.
Registration statements relating to these securities have been filed with the Securities and Exchange Commission and became effective on February 2, 2023. The offering is being made only by means of a written prospectus. A copy of the final prospectus relating to the offering, when available, may be obtained from: Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022, telephone: (877) 821-7388, email: Prospectus_Department@Jefferies.com; SVB Securities LLC, Attention: Syndicate Department, 53 State Street, 40th Floor, Boston, MA 02109, telephone: (800) 808-7525, ext. 6105, email: syndicate@svbsecurities.com; Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison, 8th Floor, New York, NY 10017, telephone: (212) 518-9544, email: GSEquityProspectusDelivery@guggenheimpartners.com; or BMO Capital Markets Corp., Attention: Equity Syndicate Department, 151 W 42nd Street, 32nd Floor New York, NY 10036, telephone: (800) 414-3627, email: bmoprospectus@bmo.com.
This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Structure Therapeutics
Structure Therapeutics is a clinical-stage global biopharmaceutical company discovering and developing novel oral therapeutics to treat chronic metabolic and pulmonary diseases with unmet medical needs. By leveraging its next generation structure-based drug discovery platform, the company has built a pipeline including two clinical-stage small molecule compounds designed to overcome the limitations of biologics and peptide therapies. The company is currently focused on the GPCR family of drug targets.
Contacts:
Investor Relations:
Jun Yoon, Chief Financial Officer
Structure Therapeutics Inc.
ir@structuretx.com
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