AnPac Bio Announces Pricing of Initial Public Offering
SAN JOSE, Calif., Jan. 30, 2020 /PRNewswire/ -- 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, today announced 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. 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."
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.
This offering of the securities is made only by means of a prospectus forming part of the effective registration statement. A copy of the final prospectus relating to the offering may be obtained, when available, by contacting:
WestPark Capital, Inc.
Attention: Jay Stern
1900 Avenue of the Stars, Suite 310
Los Angeles, CA 90067
Phone: (310) 843-9300
Univest Securities, LLC
Attention: Edric Guo
375 Park Avenue #1502
New York, NY 10152
Phone: (212) 343-8888
About AnPac Bio
AnPac Bio is a biotechnology company focused on early cancer screening and detection. With two certified clinical laboratories in China and one CLIA registered clinical laboratory in the United States, AnPac Bio performs a suite of cancer screening and detection tests, including CDA (Cancer Differentiation Analysis), bio-chemical, immunological, and genomics tests. In a recent market research report by Frost & Sullivan, AnPac Bio ranked second worldwide among companies offering next-generation early cancer screening and detection technologies in terms of the number of clinical samples for cancer screening and detection, based on approximately 35,000 clinical samples as at June 30, 2019. These clinical samples demonstrated that AnPac Bio's CDA technology and platform could detect the risk of over 20 different cancer types with high sensitivity and specificity.
For more information, please visit: https://www.anpacbio.com
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SOURCE AnPac Bio-Medical Science Co., Ltd.