Thursday, 02 April 2020

I-MAB Announces Pricing of U.S. Initial Public Offering

27 January 2020 | News

Shanghai based I-Mab is a dynamic, global biotech company exclusively focused on developing biologics of novel or highly differentiated in the therapeutic areas of immuno-oncology and autoimmune diseases

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I-Mab (“I-Mab” or the “Company”), a clinical stage biopharmaceutical company committed to the discovery, development and commercialization of novel or highly differentiated biologics to treat diseases with significant unmet medical needs, particularly cancers and autoimmune disorders, today announced the pricing of its initial public offering of 7,407,400 American Depositary Shares (“ADSs”), each ten (10) ADSs representing twenty-three (23) ordinary shares of the Company, par value $0.0001 per share, at $14.00 per ADS, assuming the underwriters do not exercise their option to purchase additional ADSs. The ADSs will begin trading on January 17, 2020 on the Nasdaq Global Market under the symbol "IMAB".

The Company has granted the underwriters an option to purchase up to an additional 1,111,110 ADSs within 30 days from the date of the final prospectus at US$14.00 per ADS. The total gross proceeds of the offering are expected to be approximately $ 103,703,600, assuming the underwriters do not exercise their option to purchase additional ADSs, or approximately $ 119,259,140, if the underwriters choose to exercise their option to purchase additional ADSs in full.

Jefferies LLC and China International Capital Corporation Hong Kong Securities Limited are acting as joint book-running managers for this offering. China Renaissance Securities (Hong Kong) Limited and Huatai Securities (USA), Inc. are acting as lead managers for this offering.

The Company’s registration statement related to the offering has been filed with, and declared effective by, the U.S. Securities and Exchange Commission (the "SEC"). 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.

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