LOS ANGELES, Feb. 03, 2020 (GLOBE NEWSWIRE) -- WestPark Capital, Inc., a member of FINRA and SIPC, a full-service investment bank and securities broker-dealer firm based in Los Angeles, today announced the pricing and trading of the initial public offering ("IPO") for its client AnPac Bio-Medical Science Co., Ltd. ("AnPac Bio" or the "Company"), WestPark was the Lead Manager of the offering. 1,333,360 American depositary shares ("ADSs") were sold for a total of $16,000,320 in gross proceeds before fees and expenses. AnPac Bio's ADSs began trading on The Nasdaq Global Market ("Nasdaq") on Thursday, January 30, 2020 under the trading symbol "ANPC".
In addition, AnPac Bio has granted the underwriters a 30-day option to purchase up to 200,004 additional ADSs at the initial public offering price less underwriting discounts. If the underwriters choose to exercise their overallotment option, the total capital raised will be approximately $18,460,000.
WestPark Capital, Inc. acted as the Lead Managing Underwriter to this offering, Cleary Gottlieb Steen & Hamilton LLP acted as counsel to the Company, and Sheppard Mullin Richter & Hampton LLP acted as counsel to the underwriters in connection with the Offering.
AnPac Bio's registration statement relating to the offering has been filed with, and declared effective by, the United States Securities and Exchange Commission.
This offering of the securities is made only by means of a prospectus forming part of the effective registration statement. A copy of the final prospectus relating to the offering may be obtained, when available, by contacting:
WestPark Capital, Inc.
Attention: Craig Kaufman
Email: ckaufman@wpcapital.com
Phone: (347) 923-7404
Before you invest, you should read the prospectus and other documents the Company has filed or will file with the SEC for more complete information about the Company and the Offering. This press release does not constitute an offer to sell, or the solicitation of an offer to buy any of the Company's securities, nor shall such securities be offered or sold in the United States absent registration or an applicable exemption from registration, nor shall there be any offer, solicitation or sale of any of the Company's securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
About WestPark Capital, Inc.:
WestPark Capital is a full-service investment bank focused on emerging growth sectors such as healthcare, software, technology, biotechnology, financial services, manufacturing, consumer products, media and telecom industries, among other categories. WestPark Capital provides a comprehensive range of corporate finance services, including initial public offerings, follow-on offerings, private placements, SIPOs and corporate finance advisory services. Additional information about WestPark Capital is available at www.wpcapital.com or at info@wpcapital.com.
About Anpac Bio:
Anpac Bio is a biotechnology company focused on early cancer screening and detection. With two certified clinical laboratories in China, Anpac Bio performs a suite of cancer screening and detection tests, including CDA (Cancer Differentiation Analysis), bio-chemical, immunological, and genomics tests. In a recent market research report by Frost & Sullivan, Anpac Bio ranked second worldwide among companies offering next-generation early cancer screening and detection technologies in terms of the number of clinical samples for cancer screening and detection, based on approximately 35,000 clinical samples as at June 30, 2019. These clinical samples demonstrated that Anpac Bio's CDA technology could detect the risk of over 20 different cancer types with high sensitivity and specificity. For more information, please visit: https://www.anpacbio.com.
Contact:
WestPark Capital, Inc.
Craig Kaufman
Email: ckaufman@wpcapital.com
Phone: (347) 923-7404
AnPac Bio-Medical Science Co., Ltd.
Email: info@anpacbio.com