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Friday, January 27, 2023

AnPac (NASDAQ: ANPC) Priced $2.9M Underwritten Public Offering of American Depositary Shares

AnPac Bio-Medical Science Co., Ltd. (NASDAQ: ANPC) has declared the pricing of an underwritten public offering of 1,301,928 of its American Depositary Shares (ADSs) at a public offering price of $2.22 per share. The company disclosed that it is expecting a gross profit of nearly $2.9 million, before subtracting the underwriting discount and other offering expenses payable by the Company. This also encompasses the full utilization of the underwriter’s over-allotment option.

Shares of AnPac Bio-Medical Science Co., Ltd. (NASDAQ: ANPC) plunged 1.60% during the trading session of Tuesday. In the past 52-weeks of a trading session, the share of the firm oscillated between the 52-weeks low range of $2.42 and a high range of $12.09. The firm’s share has gone up 1.65% from its 52-week low and went down -79.65% from its 52-week high. The company has recorded a total market capitalization of $35.87 million at the time of writing.

Furthermore, the shares of ADSs offered by AnPac Bio-Medical Science Co., Ltd. are in accordance with a “shelf” registration statement on Form F-3. The offer will become valid with the SEC on June 7, 2021, the base prospectus contained within, and the accompanying prospectus supplement.  The sole book-running manager for the offering is EF Hutton, a division of Benchmark Investments, LLC. The offering is anticipated to close on or about November 12, 2021. The execution of the offer is dependent on customary closing conditions.

In addition, AnPac Bio is a biotechnology company whose main focus is on early cancer screening and detection. It currently has 148 issued patents as of June 30, 2021. It has one CLIA and CAP registered clinical laboratory in the US and two certified clinical laboratories in China. Moreover, AnPac Bio accomplishes a suite of cancer screening and detection tests, including CDA (Cancer Differentiation Analysis), biochemical, immunological, and genomics tests.

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