Cleary Gottlieb Steen & Hamilton LLP served as legal counsel to the company, while Sheppard Mullin Richter & Hampton LLP served as legal counsel to the underwriters in connection with the offering.
AnPac Bio-Medical Science Co., Ltd. announced the pricing and commencement of trading for its initial public offering.
AnPac Bio sold a total of 1,333,360 American Depositary Shares (“ADS”), generating gross proceeds of $16,000,320, after deducting fees and expenses. The company’s ADSs began trading on the NASDAQ Global Market (“NASDAQ”) on Thursday, January 30, 2020, under the ticker symbol “ANPC.”
In addition, AnPac Bio granted the underwriters a 30-day over-allotment option to purchase up to an additional 200,004 ADSs at the initial public offering price, less underwriting discounts. If the underwriters fully exercise this option, the total gross proceeds would amount to approximately $18,460,000.
Underwriters:
WestPark Capital, Inc., Univest Securities, LLC, Newbridge Securities Corp, Prime Number Securities, LLC, The Benchmark Company, LLC, and WallachBeth Capital, LLC.
The Sheppard Mullin transaction team was led by partners Richard Friedman (pictured) and Stephen Cohen, and included attorneys Yuanmei Lü, Nazia Khan, and Matthew Hayes.
Partner Jing Liu and attorney Paul Chang provided legal counsel on intellectual property matters, and partner Allison Fulton advised on FDA-related matters.
Parties Earning Fees in Connection with the Offering：Paul Chang – Sheppard Mullin；Stephen Cohen – Sheppard Mullin；Richard Friedman – Sheppard Mullin；Allison Fulton – Sheppard Mullin ；Matthew Hayes – Sheppard Mullin；Nazia Khan – Sheppard Mullin；Jing Liu – Sheppard Mullin；Yuanmei Lu – Sheppard Mullin；
Law Firms Involved and Their Roles：Sheppard Mullin；
Clients：Newbridge Securities Corp；Prime Number Securities, LLC；The Benchmark Company；Univest Securities, LLC；WallachBeth Capital, LLC；WestPark Capital, Inc
