{"id":15341,"date":"2023-08-08T00:02:00","date_gmt":"2023-08-07T16:02:00","guid":{"rendered":"https:\/\/flcube.com\/?p=15341"},"modified":"2024-11-28T00:04:40","modified_gmt":"2024-11-27T16:04:40","slug":"gracell-biotechnologies-secures-100-million-in-private-placement-with-healthcare-investors","status":"publish","type":"post","link":"https:\/\/flcube.com\/?p=15341","title":{"rendered":"Gracell Biotechnologies Secures $100 Million in Private Placement with Healthcare Investors"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Suzhou-based biotech firm Gracell Biotechnologies Inc., (NASDAQ: GRCL) has announced a purchase agreement with a select group of institutional and accredited healthcare specialist investors for a private placement of 138,900,000 ordinary shares, equivalent to 27,780,000 American depositary shares (ADSs), at a purchase price of USD 3.60 per ADS. The agreement also includes warrants to purchase up to 44,802,870 ordinary shares, equivalent to 8,960,574 ADSs, at an exercise price of USD 5.58 per ADS, representing a 55% premium over the purchase price of the ordinary shares.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Proceeds and Warrant Details<\/strong><br>Gracell will receive USD 100 million in proceeds from the private placement of ordinary shares, with the potential for an additional USD 50 million if the warrants are fully exercised. The warrants are exercisable at the investors&#8217; election within 24 months following the closing of the private placement. The financing is anticipated to close on August 10, 2023, subject to customary closing conditions.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Investor Participation and Transaction Details<\/strong><br>The oversubscribed transaction reflects strong interest from both new and existing institutional investors and is led by Vivo Capital, with participation from a diverse group of investors including Adage Capital Partners LP, Exome Asset Management, Janus Henderson Investors, Logos Capital, OrbiMed, Pivotal Life Sciences, RA Capital Management, and TCGX, among others. This private placement underscores the confidence of healthcare investors in Gracell&#8217;s potential and its pipeline of biotechnological products.<a href=\"https:\/\/flcube.com\">-Fineline Info &amp; Tech<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Suzhou-based biotech firm Gracell Biotechnologies Inc., (NASDAQ: GRCL) has announced a purchase agreement with a&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"googlesitekit_rrm_CAownpewDA:productID":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[7,10],"tags":[20,644,2417],"class_list":["post-15341","post","type-post","status-publish","format-standard","hentry","category-company","category-deals","tag-finance","tag-gracell-biotechnologies","tag-nasdaq-grc"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.5 (Yoast SEO v27.9) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Gracell Biotechnologies Secures $100 Million in Private Placement with Healthcare Investors - Insight, China&#039;s Pharmaceutical Industry<\/title>\n<meta name=\"description\" content=\"Suzhou-based biotech firm Gracell Biotechnologies Inc., (NASDAQ: GRCL) has announced a purchase agreement with a select group of institutional and accredited healthcare specialist investors for a private placement of 138,900,000 ordinary shares, equivalent to 27,780,000 American depositary shares (ADSs), at a purchase price of USD 3.60 per ADS. 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