Zai Lab Ltd. (ZLAB) announced on Monday the anticipated closure of its previously disclosed public offering, which was conducted through underwriters. The offering involves approximately 7.8 million American Depositary Shares (ADS) priced at $25.50 each.
The underwriters have exercised their option in full to purchase an additional 1.2 million ADSs. This results in Zai Lab selling a total of around 9.02 million ADSs in this offering, with expected gross proceeds of roughly $230 million.
The company plans to finalize the sale related to the additional ADSs from the exercised option by November 19.
Currently, Zai Lab's shares have decreased by 6.69 percent, trading at $25.27 on the Nasdaq.