Aslan Pharmaceuticals Ltd., of Singapore, disclosed the completion of its underwritten public offering of about 5.8 million American depositary shares at a public offering price of $2.50 each, including the exercise in full of the underwriter’s option to purchase additional shares, each representing five ordinary shares. The gross proceeds to Aslan were about $14.7 million.
Iveric Bio Inc., of New York, priced an underwritten public offering of 6.25 million shares of its common stock at a price to the public of $4 per share and, to certain investors in lieu of common stock, prefunded warrants to purchase about 3.7 million shares of its common stock at a price to the public of $3.99 per prefunded warrant. The purchase price of each prefunded warrant represents the per share public offering price for the common stock, minus the $0.001 per share exercise price of such prefunded warrant. The aggregate gross proceeds are expected to be about $40 million. The company has granted the underwriters an option for a period of 30 days to purchase up to an additional 1.5 million shares. Cowen is acting as the sole book-running manager. Wedbush Securities is serving as lead manager. Shares of Iveric (NASDAQ:ISEE) gained 10 cents Friday to close at $4.40.
Summit Therapeutics plc, of Oxford, U.K., disclosed a proposed financing of $50 million through a subscription and placing of new ordinary shares and warrants to existing investors. The transaction includes proposals to restructure the company’s board and to cancel the trading on the London stock exchange of the company’s ordinary shares. The company’s American depositary shares will remain listed on Nasdaq.