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Zai Lab Limited (ZLAB) Announces Proposed 5.5M ADS Common Offering

January 21, 2020 4:34 PM EST

Zai Lab Limited (NASDAQ: ZLAB) today announced that it has commenced an underwritten public offering of 5,500,000 American depositary shares (“ADSs”), each representing one ordinary share of the Company (the “Primary ADS Offering”). In addition, QM11 Limited, a shareholder of the Company, intends to offer 500,000 ADSs of the Company (the “Secondary ADS Offering” and together with the Primary ADS Offering, the “Offering”). Zai Lab and QM11 Limited expect to grant the underwriters a 30-day option to purchase up to 800,000 and 100,000 additional ADSs, respectively. Zai Lab will not receive any proceeds from the sale of the ADSs by QM11 Limited.

J.P. Morgan, Citigroup, Goldman Sachs and SVB Leerink are acting as joint book-running managers and Guggenheim Securities is acting as lead manager for the Offering. The Offering is subject to market and other conditions, and there can be no assurance as to whether or when the Offering may be completed.

The Offering will be made pursuant to a shelf registration statement on Form F-3ASR, which became automatically effective upon filing with the U.S. Securities and Exchange Commission (“SEC”) on March 29, 2019 and was subsequently amended and became automatically effective upon filing with the SEC on January 21, 2020. A preliminary prospectus supplement related to the proposed Offering is being filed with the SEC.



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