Zai Lab $857.5 million offering of American depositary shares and ordinary shares
Davis Polk advised Zai Lab Limited in connection with its offering of 5,492,400 American depositary shares, each representing one ordinary share of the company, and the concurrent offering of 224,000 ordinary shares. The gross proceeds from the transaction, including both the ADSs offering and the ordinary shares offering amounted to approximately $857.5 million.
Zai Lab (NASDAQ:ZLAB, HKEX: 9688) is an innovative, research-based, commercial stage biopharmaceutical company with a substantial presence in both Greater China and the United States. The company focused on developing and commercializing therapies that address medical conditions with unmet needs in oncology, autoimmune disorders and infectious disease, with the aim to become a leading global biopharmaceutical company discovering, developing and commercializing products to extend and improve the lives of patients worldwide.
The Davis Polk corporate team included partners James C. Lin and Yang Chu, counsel Xuelin (Steve) Wang, senior compliance consultant Vanessa Chan, registered foreign lawyers Jennifer Liu and Haiyang Zhao and associates Jenny Ho and Pearl Ho. Counsel Alon Gurfinkel and associates Harel Omer and Summer Xia provided tax advice. Associate Leon E. Salkin provided 1940 Act advice. Members of the Davis Polk team are based in the Hong Kong, London and New York offices.