Simpson Thacher represented the underwriters in connection with an offering by Zai Lab Limited (“Zai Lab”) (NASDAQ: ZLAB; HKEX: 9688) of an aggregate of 5,492,400 American depositary shares (“ADSs”) listed on the Nasdaq Global Market, each representing one ordinary share of Zai Lab, at a public offering price of $150 per ADS, and 224,000 ordinary shares listed on The Stock Exchange of Hong Kong Limited, at a public offering price of HK$1,164.20 per ordinary share, for total gross proceeds of $857.5 million. The offering included 716,400 of ADSs sold by Zai Lab pursuant to the underwriters’ full exercise of their option to purchase additional ADSs.
J.P. Morgan Securities LLC, Goldman Sachs & Co. LLC, Jefferies LLC, Citigroup Global Markets Inc., SVB Leerink LLC and Guggenheim Securities, LLC acted as joint book-running managers in respect of the ADSs and J.P. Morgan Securities plc, Goldman Sachs (Asia) L.L.C., Jefferies Hong Kong Limited, Citigroup Global Markets Limited and Guggenheim Securities, LLC acted as joint book-running managers in respect of the ordinary shares.
Zai Lab is an innovative, research-based, commercial-stage biopharmaceutical company focused on developing and commercializing therapies that address medical conditions with unmet needs in oncology, autoimmune disorders and infectious disease.
The Simpson Thacher team for the transaction included Art Robinson, John O’Connell and Catherine Ciriello (Capital Markets); Celia Lam, David Yun and Carol Chan (Capital Markets – Hong Kong); Marcy Geller and Tyler Robbins (Tax); Jennifer Neilsson (Executive Compensation and Employee Benefits); Vanessa Burrows (Healthcare); Michael Isby (Environmental); Alysha Sekhon (Intellectual Property); and Jennie Getsin (FINRA and Blue Sky).