Ropes & Gray represented global biopharmaceutical company Zai Lab Limited in a securities purchase agreement for the sale of 11,340,000 American Depositary Shares (ADSs), each representing ten ordinary shares of the company, to certain investors in a private investment in public equity (PIPE) financing. The purchase price of each ADS is $22.04. Gross proceeds from the PIPE financing are expected to be approximately $250 million. The PIPE financing was announced on October 22 and is expected to close on October 27.
Zai Lab intends to use the net proceeds from the PIPE financing primarily to support continued global development of the company’s ligand-targeting antibody-drug conjugate drug delivery therapy.
The Ropes & Gray team was led by capital markets partner Will Michener and life sciences partner Arthur Mok.
Attorneys
Stay Up To Date with Ropes & Gray
Ropes & Gray attorneys provide timely analysis on legal developments, court decisions and changes in legislation and regulations.
Stay in the loop with all things Ropes & Gray, and find out more about our people, culture, initiatives and everything that’s happening.
We regularly notify our clients and contacts of significant legal developments, news, webinars and teleconferences that affect their industries.