On January 30, 2020 AnPac Bio-Medical Science Co., Ltd. ("AnPac Bio" or the "Company") (NASDAQ: ANPC), a biotechnology company with operations in China and the United States focused on early cancer screening and detection, reported that it has priced its initial public offering of 1,333,360 American depositary shares ("ADSs") at US$12.00 per ADS for a total offering size of approximately US$16.0 million, assuming the underwriters do not exercise their over-allotment option to purchase additional ADSs (Press release, Anpac Bio, JAN 30, 2020, View Source [SID1234553720]). Each ADS represents one Class A ordinary share of the Company. The ADSs are expected to begin trading on the Nasdaq Global Market on January 30, 2020 under the ticker symbol "ANPC."
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The Company has granted the underwriters an option, exercisable within 30 days from the date of the final prospectus, to purchase up to an aggregate of 200,004 additional ADSs at the initial public offering price, less underwriting discounts and commissions, to cover over-allotments.
WestPark Capital, Inc. and Univest Securities, LLC are acting as joint bookrunners of this offering and as the representatives of the underwriters.
AnPac Bio’s registration statement relating to the offering has been filed with, and declared effective by, the United States Securities and Exchange Commission. This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of, these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.