Belite Bio raises up to $275 million in private placement

Belite Bio Inc (NASDAQ: BLTE) announced it has entered into securities purchase agreements for a private placement expected to generate $125 million in gross proceeds, with potential for an additional $150 million if accompanying warrants are exercised.

The clinical-stage drug development company will issue 1,953,124 ordinary shares and warrants to purchase an equal number of shares at $64.00 per share and warrant. The warrants carry an exercise price of $76.80 per share, representing a 20% premium to the purchase price, and expire two years from issuance.

RA Capital Management led the financing round, with participation from Eventide Asset Management, Marshall Wace, RTW Investments, Soleus Capital and Vestal Point Capital. Morgan Stanley served as sole placement agent.

The transaction is expected to close on or about September 9, 2025, subject to customary closing conditions. Belite Bio focuses on developing therapeutics for degenerative retinal diseases including Stargardt disease and geographic atrophy in advanced dry age-related macular degeneration.

"We are grateful for the support from this group of leading healthcare investors in our work to bring novel and potentially transformative treatments for retinal degenerative eye diseases," said Tom Lin, chairman and chief executive officer.

The company plans to use proceeds for commercialization preparation, working capital and general corporate purposes. The securities are being issued under Section 4(a)(2) of the Securities Act and Rule 506 of Regulation D, with Belite Bio agreeing to file a registration statement for resale of the shares.

You May Also Be Interested In

• Manulife prices $750M subordinated notes offering at 6.146%
• TDS drops bid for Array Digital Infrastructure minority shares
• AEVEX and Divergent team up on autonomous drone development