GAITHERSBURG, Md., Feb. 9, 2024 /PRNewswire/ -- YS Biopharma Co.,
Ltd. (NASDAQ: YS) ("YS Biopharma") along with its subsidiaries ("YS
Group" or the "Company"), a global biopharmaceutical company
dedicated to discovering, developing, manufacturing, and delivering
new generations of vaccines and therapeutic biologics for
infectious diseases and cancer, today announced that it has entered
into a share purchase agreement (the "Purchase Agreement") with an
institutional investor (the "Purchaser") for the private placement
of 95,269,762 ordinary shares of the Company, par value
US$0.00002 per share (the "Shares")
at a purchase price of $0.41986 per
Share (the "Private Placement") for an aggregate of US$40 million in proceeds.
Dr. David Shao, Director,
President, and CEO of the Company, commented, "We are proud to
announce the US$40 million private
placement, exclusively through the issuance of ordinary shares.
Through equity financing, without issuance of any warrants or
options, we empower our investors with direct ownership, aligning
their interests with the interests of existing shareholders
striving for the long-term success of YS Biopharma. This infusion
of capital significantly improves and strengthens our balance
sheet. It bolsters our cash position, enhances liquidity, and
provides additional financial resources to support our core
operations and business growth."
The Shares being purchased are exempted from the registration
requirements of the Securities Act of 1933, as amended (the
"Securities Act") pursuant to Regulation S promulgated thereunder.
The Private Placement was made after the dismissal of the
injunction order granted by the Grand Court of the Cayman Islands dated December 22, 2023. The Purchase Agreement
contains customary representations, warranties and covenants of the
Company and the Purchaser, and customary indemnification provisions
for a transaction of this type. The Company also granted the
Purchaser customary registration rights with respect to the Shares.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities, in any state or jurisdiction in which such offer,
solicitation or sale of these securities would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains "forward-looking statements'' within
the meaning of Section 27A of the Securities Act of 1933, as
amended, Section 21E of the Securities Exchange Act of 1934, as
amended, and the Private Securities Litigation Reform Act of 1995.
All statements other than statements of historical or current fact
included in this press release are forward-looking statements,
including but not limited to statements regarding the expected
growth of the Company, the development progress of all product
candidates, the progress and results of all clinical trials, the
Company's ability to source and retain talent, and the cash
position of the Company. Forward-looking statements may be
identified by the use of words such as "estimate," "plan,"
"project," "forecast," "intend," "will," "expect," "anticipate,"
"believe," "seek," "target" or other similar expressions that
predict or indicate future events or trends or that are not
statements of historical matters. These statements are based on
various assumptions, whether identified in this press release, and
on the current expectations of YS Biopharma's management and are
not predictions of actual performance.
YS Biopharma cannot assure you that the forward-looking
statements in this press release will prove to be accurate. These
forward-looking statements are subject to a number of risks and
uncertainties, including those included under the heading "Risk
Factors" in the Company's most recent annual report on Form 20-F,
as well as discussions of potential risks, uncertainties and other
important factors in the Company's subsequent filings with the SEC.
There may be additional risks that YS Biopharma does not presently
know or that YS Biopharma currently believes are immaterial that
could also cause actual results to differ from those contained in
the forward-looking statements. In light of the significant
uncertainties in these forward-looking statements, nothing in this
press release should be regarded as a representation by any person
that the forward-looking statements set forth herein will be
achieved or that any of the contemplated results of such
forward-looking statements will be achieved. The forward-looking
statements in this press release represent the views of YS
Biopharma as of the date of this press release. Subsequent events
and developments may cause those views to change. However, while YS
Biopharma may update these forward-looking statements in the
future, there is no current intention to do so, except to the
extent required by applicable law. You should, therefore, not rely
on these forward-looking statements as representing the views of YS
Biopharma as of any date subsequent to the date of this press
release. Except as may be required by law, YS Biopharma does not
undertake any duty to update these forward-looking statements.
Investor Relations Contact
Robin Yang
Partner, ICR, LLC
Tel: +1 (212) 537-4035
Email: YSBiopharma.IR@icrinc.com
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SOURCE YS Biopharma Co., Ltd.