Ascentage Pharma to Use Offshore Offering Proceeds to Boost Global Trials and Expand Patient Access

Author: Benzinga Newsdesk | July 14, 2025 05:26am

Ascentage Pharma Group International Inc. (NASDAQ:AAPG, HKEX: 6855))) ("Ascentage" or the "Company"), a global biopharmaceutical company dedicated to addressing unmet medical needs in cancers, announced that Dajun Yang Dynasty Trust, an affiliate of the Company's Chief Executive Officer, Dajun Yang, M.D., Ph.D. (the "Vendor"), proposes to offer ordinary shares, par value US$0.0001 per share, of the Company (the "Placement Shares") in an offshore transaction outside the United States to non-U.S. persons in reliance on Regulation S under the Securities Act of 1933, as amended (the "Securities Act"), subject to market conditions and other factors (the "Offshore Placement"). At the time of the closing of the Offshore Placement, the Vendor would subscribe for, and the Company would issue to the Vendor new ordinary shares of the Company (the "Replacement Shares") at the same number as the number of the Placement Shares offered in the Offshore Placement and at the same price per share as the price per share for the Placement Shares. The closing of the transaction involving the issuance of the Replacement Shares will be subject to customary closing conditions and take place after the closing of the Offshore Placement. In connection with the Offshore Placement, the representatives in the Company's U.S. initial public offering in January 2025 waived a lock-up restriction with respect to the Placement Shares held by the Vendor.

The Company intends to use the net proceeds resulting from the Offshore Placement, followed by the issuance of the Replacement Shares (the "Offering Proceeds") for commercialization efforts, including expanding coverage and improving patient access, global clinical development to advance the core pipeline candidates of the Company, as well as infrastructure and working capital to strengthen global operations.

Posted In: AAPG