Zhitong Finance App News, Zaiding Pharmaceutical (09688) issued an announcement. On October 22, 2026 (US Eastern Time), the company signed a securities purchase agreement with investors. According to this, the company agreed to issue and sell a total of 11.34 million American depository shares to investors at the price of American Depositary Shares (representing 113.4 million related shares with a total face value of US$680.40). Each American Depositary Share represents 10 common shares as related shares. Leerink Partners LLC acts as the exclusive placement agent for private placements.
As of the date of this announcement, the company had 1,138 billion shares of common stock issued. Assuming that the company's issued share capital will not change from the date of this announcement until the date of delivery, the total number of relevant shares of 113.4 million shares represents about 9.06% of the issued common shares after allotment and expansion of related shares issued. The sale price of each American Depositary Share was US$22.04, equivalent to approximately HK$17.28 per related share, representing the closing price of US$22.04 per American Depositary Share as reported by NASDAQ on October 22, 2026 (US Eastern Time) without discount; the closing price of HK$17.84 per common share as reported by the Stock Exchange on October 22, 2026 (Hong Kong time) (based on the ratio of each 10 shares to 1 American Depositary Share) is approximately 3.14%.
The total proceeds from private placement are expected to be approximately $250 million, and the net proceeds are expected to be approximately $241 million. The company plans to use the net proceeds from the private placement mainly to support the continued global development of its Delta-like ligand 3 (DLL3) antibody-conjugate drug (ADC) targeting Zocilurtatug Pelitecan (zoci).