AnPac Bio-Medical Science Announces Signing of US$5.2 Million of Definitive Investment Agreements
26 January 2023 - 12:30AM
AnPac Bio-Medical Science Co., Ltd. (the “Company”) (Nasdaq:
ANPC), a biotechnology company with operations in the United States
and China focused on early cancer screening and detection and a
business-to-business food e-commerce company, announced that in
December 2022 and January 2023, the Company signed definitive
investment agreements with several third party investors. The
investors agreed to purchase 29,714,279 newly issued Class A
ordinary shares (1,485,714 American Depositary Shares or “ADSs”) of
the Company at a price of US$0.175 per ordinary share or US$3.50
per ADS (1:20 ADS-to-share ratio), for a total purchase price of
US$5.2 million. The closing is expected to take place within 30
days after signing. Concurrently, for each Class A ordinary share
purchased, the investors will receive two warrants with each
warrant to purchase one Class A ordinary share at an exercise price
of US$0.21 per ordinary share (2,971,428 ADS an at exercise price
of US$4.20 per ADS). The warrants will be exercisable within 2
years from the date of issuance.
The Company expects to use the proceeds for its
business-to-business Asian food e-commerce and Asian food supply
chain construction.
This press release does not constitute an offer
to sell or the solicitation of an offer to buy any securities of
the Company.
About AnPac
Bio-Medical Science Co., Ltd.
AnPac Bio-Medical Science Co., Ltd.is a
biotechnology company focused on early cancer screening and
detection, with 155 issued patents as of June 30, 2022. With two
certified clinical laboratories in China and one CLIA and CAP
accredited clinical laboratory in the United States, AnPac Bio
performs a suite of cancer screening and detection tests, including
CDA (Cancer Differentiation Analysis), bio-chemical, immunological,
and genomics tests. The Company also has business-to-business food
e-commerce business.
For more information, please
visit: https://www.Anpacbio.com.
For investor and media inquiries, please
contact:
Ascent Investor Relations LLCTina XiaoPhone: +1-917-609-0333
(U.S.)Email: tina.xiao@ascent-ir.com
Safe Harbor Statement
This announcement contains forward-looking
statements within the meaning of Section 27A of the Securities
Act of 1933 and Section 21E of the Securities Exchange Act of
1934. These forward-looking statements are made under the “safe
harbor” provisions of the Private Securities Litigation Reform Act
of 1995 and are relating to the Company’s future financial and
operating performance. The Company has attempted to identify
forward-looking statements by terminologies including “believes,”
“estimates,” “anticipates,” “expects,” “plans,” “projects,”
“intends,” “potential,” “target,” “aim,” “predict,” “outlook,”
“seek,” “goal” “objective,” “assume,” “contemplate,” “continue,”
“positioned,” “forecast,” “likely,” “may,” “could,” “might,”
“will,” “should,” “approximately” or other words that convey
uncertainty of future events or outcomes to identify these
forward-looking statements. These statements are based on current
expectations, assumptions and uncertainties involving judgments
about, among other things, future economic, competitive and market
conditions and future business decisions, all of which are
difficult or impossible to predict accurately and many of which are
beyond the Company’s control. These statements also involve known
and unknown risks, uncertainties and other factors that may cause
the Company’s actual results to be materially different from those
expressed or implied by any forward-looking statement. Known and
unknown risks, uncertainties and other factors include, but are not
limited to, our ability to comply with Nasdaq Listing Rules, the
implementation of our business model and growth strategies; trends
and competition in the cancer screening and detection market; our
expectations regarding demand for and market acceptance of our
cancer screening and detection tests and our ability to expand our
customer base; our ability to obtain and maintain intellectual
property protections for our CDA technology and our continued
research and development to keep pace with technology developments;
our ability to obtain and maintain regulatory approvals from the
NMPA, the FDA and the relevant U.S. states and have our
laboratories certified or accredited by authorities including the
CLIA; our future business development, financial condition and
results of operations and our ability to obtain financing
cost-effectively; potential changes of government regulations;
general economic and business conditions in China and elsewhere;
our ability to hire and maintain key personnel; our relationship
with our major business partners and customers; and the duration of
the coronavirus outbreaks and their potential adverse impact on the
economic conditions and financial markets and our business and
financial performance, such as resulting from reduced commercial
activities due to quarantines and travel restrictions instituted by
China, the U.S. and many other countries around the world to
contain the spread of the virus. Additionally, all forward-looking
statements are subject to the “Risk Factors” detailed from time to
time in the Company’s most recent Annual Report on Form 20-F
and other filings with the U.S. Securities and Exchange Commission.
Because of these and other risks, uncertainties and assumptions,
undue reliance should not be placed on these forward-looking
statements. In addition, these statements speak only as of the date
of this press release and, except as may be required by law, the
Company undertakes no obligation to revise or update publicly any
forward-looking statements for any reason.
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