Simpson Thacher represented Goldman Sachs (Asia) L.L.C., Jefferies and Leerink Partners as underwriters in connection with an offering by Zai Lab Limited (“Zai Lab”) of 9,019,607 American depositary shares (“ADSs”) listed on the Nasdaq Global Market, each representing ten ordinary shares of Zai Lab, at a public offering price of $25.50 per ADS, for total gross proceeds of approximately $230 million. The offering included 1,176,470 ADSs sold by Zai Lab pursuant to the underwriters’ full exercise of their option to purchase additional ADSs.
Zai Lab is an innovative, research-based, commercial-stage biopharmaceutical company based in China and the United States. Zai Lab is focused on discovering, developing and commercializing innovative products that address medical conditions with significant unmet needs in the areas of oncology, immunology, neuroscience and infectious disease.
The Simpson Thacher team for the transaction included John O’Connell, Matt Petrone, Nate Yang and Shuhan Zhang (Capital Markets); Christopher Wong and Stephanie Chan (Capital Markets – Hong Kong); Michael Mann and Michael Leitner (Tax); Pasco Struhs (Executive Compensation and Employee Benefits); Vanessa Burrows and Jacob Madden (Healthcare); Michael Isby (Environmental); Alysha Sekhon (Intellectual Property); and Jennie Getsin (FINRA and Blue Sky).