Belite Bio (BLTE) prices 2 million share offering at $15/ADS

Belite Bio, Inc (NASDAQ: BLTE) announced that it has priced an underwritten public offering of 2,000,000 American Depositary Shares (“ADSs”), each representing one of its ordinary shares, and warrants to purchase 2,000,000 ordinary shares represented by ADSs, at a public offering price of $15.00 per ADS and accompanying warrant. The warrants will be exercisable immediately, will expire five years from the date of issuance and will have an exercise price of $18.00 per ADS. The gross proceeds of the offering to the Company are expected to be $30 million, before deducting underwriting discounts and commissions and estimated offering expenses payable by Belite Bio, and excluding the exercise of any warrants. All of the securities in the offering are to be sold by Belite Bio. The closing of the offering is expected to occur on or about June 2, 2023, subject to the satisfaction of customary closing conditions.

Belite Bio intends to use the net proceeds of the offering for clinical trials and further clinical development of Tinlarebant, funding its research and development of other pipeline products and for working capital and other general corporate purposes.

SVB Securities LLC, Cantor Fitzgerald & Co. and H.C. Wainwright & Co., LLC are acting as joint book-running managers for the offering.

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