Structure Therapeutics announces $300M private placement

Structure Therapeutics announced it has entered into a share purchase agreement for the sale of 21,617,295 ordinary shares and 2,401,920 newly designated non-voting ordinary shares, the equivalent of an aggregate of 8,006,405 American Depositary Shares, each representing three ordinary shares, at $12.49 per share through a private placement financing. Each share of non-voting ordinary shares will be convertible into one ordinary share. Structure Therapeutics anticipates the gross proceeds from the private placement to be approximately $300M, before deducting placement agent fees and offering expenses. The private placement is anticipated to close on October 3, 2023, subject to customary closing conditions. Jefferies and Leerink Partners are acting as joint placement agents for the private placement.