On December 3, 2019 ASLAN Pharmaceuticals Limited (Nasdaq:ASLN, TPEx:6497), a clinical-stage oncology and immunology focused biopharma company, reported that it has priced its previously announced underwritten public offering of 5,124,527 American Depositary Shares ("ADSs") at a public offering price of $2.50 per ADS (Press release, ASLAN Pharmaceuticals, DEC 3, 2019, View Source [SID1234551870]). Each ADS represents five ordinary shares of ASLAN. The gross proceeds to ASLAN, before deducting underwriting discounts, commissions and other offering expenses, are expected to be approximately $12.8 million. All of the ADSs in the offering are being sold by ASLAN.

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

In addition, ASLAN has granted the underwriter an option, exercisable at any time through and until one day before the closing date of this offering, to purchase up to an additional 768,679 ADSs at the public offering price, less the underwriting discounts and commissions. The offering is expected to close on or about 5 December 2019, subject to customary closing conditions. The aggregate offering amount, including the underwriter’s option, reflects the maximum market value of securities that ASLAN is allowed to sell under "baby shelf" rules currently applicable to its effective shelf registration statement on Form F-3.