Aptorum Group Announces Pricing of $10 Million Registered Direct Offering
26 Febrero 2020 - 8:15AM
Business Wire
Aptorum Group Limited (NASDAQ: APM) (“Aptorum Group”), a
biopharmaceutical company focused on the development of novel
therapeutics to address global unmet medical needs, today announced
the pricing of a registered direct offering of 1,351,350 Class A
ordinary shares and warrants to purchase 1,351,350 of its Class A
ordinary shares at an exercise price of $7.40 per share. The
combined purchase price for one Class A ordinary share and one
warrant will be $7.40. The gross proceeds to Aptorum Group from the
registered direct offering are expected to be approximately $10
million, before deducting the placement agents’ fees and other
estimated offering expenses. Participation in the offering includes
approximately $6 million from unaffiliated institutional investors
and $4 million from Jurchen Investment Corporation, the largest
shareholder of Aptorum Group, which is wholly owned by Ian Huen,
the Chief Executive Officer and Executive Director of Aptorum
Group. The offering is expected to close on February 28, 2020,
subject to customary closing conditions.
Alliance Global Partners (“AGP”) is acting as lead placement
agent and Maxim Group LLC is acting as a co-placement agent in
connection with this offering.
Aptorum Group intends to use the net proceeds from the offering
primarily to fund the continued research and development of our
leading therapeutic candidates (including SACT-1 and ALS-4) into
their respective clinical phases and also to expand our discovery
and development pipeline of the Smart-ACTTM orphan diseases
platform, as well as for working capital, and for general corporate
purposes. We may also use a portion of the net proceeds to acquire
or invest in technologies, products and/or businesses that we
believe will enhance the value of our Company, although Aptorum
Group has no current plans, commitments or agreements with respect
to any such transactions or acquisitions as of the date hereof.
Aptorum Group is pleased to have such US based institutional
support and as our anchor investors to support our continued growth
and expansion of our programs.
The securities described above are being offered by Aptorum
Group pursuant to a shelf registration statement on Form F-3 filed
with the Securities and Exchange Commission (SEC) dated January 6,
2020 and declared effective on January 15, 2020. A prospectus
supplement related to the offering will be, filed with the SEC and
available on the SEC’s website at http://www.sec.gov. Copies of the
prospectus supplements relating to the offering may be obtained,
when available, by contacting: Alliance Global Partners (AGP),
Prospectus Department, 590 Madison Avenue, 36th Floor, New York, NY
10022, by telephone: at (212) 624-2060, or by facsimile at
212-624-2060.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of,
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of such state or
jurisdiction.
About Aptorum Group Limited
Aptorum Group Limited (Nasdaq: APM) is a pharmaceutical company
dedicated to developing and commercializing novel therapeutics to
tackle unmet medical needs. Aptorum Group is pursuing therapeutic
projects in orphan diseases, infectious diseases, metabolic
diseases and other disease areas.
For more information about Aptorum Group, please visit
www.aptorumgroup.com.
Disclaimer and Forward-Looking Statements
This press release includes statements concerning Aptorum Group
Limited and its future expectations, plans and prospects that
constitute “forward-looking statements” within the meaning of the
Private Securities Litigation Reform Act of 1995. For this purpose,
any statements contained herein that are not statements of
historical fact may be deemed to be forward-looking statements. In
some cases, you can identify forward-looking statements by terms
such as “may,” “should,” “expects,” “plans,” “anticipates,”
“could,” “intends,” “target,” “projects,” “contemplates,”
“believes,” “estimates,” “predicts,” “potential,” or “continue,” or
the negative of these terms or other similar expressions. Aptorum
Group has based these forward-looking statements, which include
statements regarding projected timelines for application
submissions and trials, largely on its current expectations and
projections about future events and trends that it believes may
affect its business, financial condition and results of operations.
These forward-looking statements speak only as of the date of this
press release and are subject to a number of risks, uncertainties
and assumptions including, without limitation, risks related to its
announced management and organizational changes, the continued
service and availability of key personnel, its ability to expand
its product assortments by offering additional products for
additional consumer segments, development results, the company’s
anticipated growth strategies, anticipated trends and challenges in
its business, and its expectations regarding, and the stability of,
its supply chain, and the risks more fully described in Aptorum
Group’s Form 20-F and other filings that Aptorum Group may make
with the SEC in the future. As a result, the projections included
in such forward-looking statements are subject to change. Aptorum
Group assumes no obligation to update any forward-looking
statements contained in this press release as a result of new
information, future events or otherwise.
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Investors: Tel: +852 2117 6611 Email:
investor.relations@aptorumgroup.com
Media: Tel: + 852 2117 6611 Email: info@aptorumgroup.com
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