Ascentage Pharma Announces Closing of U.S. Initial Public Offering

ROCKVILLE, Md. and SUZHOU, China, Jan. 28, 2025 (GLOBE NEWSWIRE) -- Ascentage Pharma (Nasdaq: AAPG) (HKEX: 6855) announced today the closing of its U.S. initial public offering of 7,325,000 American depositary shares (“ADSs”), at a public offering price of $17.25 per ADS, before underwriting discounts and commissions. Each ADS represents four ordinary shares of Ascentage Pharma. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Ascentage Pharma, was approximately $126.4 million. In addition, Ascentage Pharma has granted the underwriters a 30-day option to purchase up to an additional 1,098,750 ADSs at the initial public offering price, less underwriting discounts and commissions. The ADSs began trading on the Nasdaq Global Market on January 24, 2025.

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