Securities code: Betta Pharmaceuticals Co.Ltd(300558) securities abbreviation: Betta Pharmaceuticals Co.Ltd(300558) Announcement No.: 2022016 Betta Pharmaceuticals Co.Ltd(300558)
Progress announcement on subscription of Series F preferred shares newly issued by xcovery
The company and all members of the board of directors guarantee that the information disclosed is true, accurate and complete without false records, misleading statements or major omissions.
1、 Transaction overview
The 24th Meeting of the third board of directors of Betta Pharmaceuticals Co.Ltd(300558) (hereinafter referred to as ” Betta Pharmaceuticals Co.Ltd(300558) ” or “the company”) deliberated and approved the proposal on subscribing for the newly issued Series F preferred shares of xcavery, and agreed that the company would subscribe for the holding subsidiary xcavery holdings through the wholly-owned subsidiary Beida investment (Hong Kong) Co., Ltd. at a price not exceeding US $5.8129 per share, Inc. (hereinafter referred to as “xcovery”) newly issued Series F preferred shares, and the total subscription amount and oversubscription amount according to the shareholding ratio shall not exceed US $80 million (hereinafter referred to as “this subscription”). This subscription does not constitute related party transactions and major asset restructuring. For details of these transactions, please refer to the announcement on subscription of Series F preferred shares newly issued by xcovery (Announcement No.: 2021111) disclosed by the company on cninfo.com on October 8, 2021.
2、 Transaction progress
The company has paid US $80 million for equity subscription in accordance with the subscription agreement, and the share delivery has been completed. The company now holds 47794585 shares of xcovery, with a shareholding ratio of 69.53%.
This investment has been filed with foreign direct investment (ODI).
3、 Impact on the company and risk tips
This subscription is made by the company with its own funds on the premise of ensuring the development of its main business, which will not affect the company’s daily production and operation activities, cause significant adverse impact on the company’s financial status and production and operation, and do not damage the interests of the company and all shareholders.
Betta Pharmaceuticals Co.Ltd(300558) participating in the subscription of Series F preferred shares newly issued by xcovery will help support the further development of xcovery, give full play to its role as a business platform, implement the company’s overseas development strategy, supplement xcovery’s daily R & D and operating funds, and accelerate the listing of ensatinib project as soon as possible.
At present, the global multicenter phase III clinical trial of the ensatinib project is being promoted. At the same time, the company is also stepping up the preparation of the application for new drug listing (NDA) of ensatinib submitted to the U.S. Food and Drug Administration (FDA). There are uncertainties in the time of new drug approval and the sales of subsequent products after listing. Please pay attention to prevent investment risks and make prudent decisions.
It is hereby announced.
Betta Pharmaceuticals Co.Ltd(300558) board of directors March 4, 2022
