Burning Rock Biotech Limited (BNR) Prices Upsized Registered Secondary Public Offering of ADSs at $25.75/Each
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Burning Rock Biotech Limited (NASDAQ: BNR), a company focused on the application of next generation sequencing (NGS) technology in the field of precision oncology, today announced the pricing of an upsized secondary public offering by certain selling shareholders (the “Offering”) of 2,243,000 American Depositary Shares (“ADSs”), each representing one Class A ordinary share of the Company, at a public offering price of US$25.75 per ADS. The aggregate offering size of the Offering is approximately US$57.8 million, assuming the underwriters do not exercise their option to purchase additional ADSs. The selling shareholders have granted the underwriters an option, exercisable within 30 days from the date of the final prospectus, to purchase up to 336,450 additional ADSs.
The Company will not receive any proceeds from the sale of the ADSs by the selling shareholders.
Morgan Stanley & Co. LLC, BofA Securities, Inc. and Cowen and Company, LLC are acting as joint bookrunners for the Offering.
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