Structure Therapeutics Inc. (NASDAQ: GPCR), a clinical-stage global biopharmaceutical company developing novel oral small molecule therapeutics for metabolic and cardiopulmonary diseases, has 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 (ADSs), each representing three ordinary shares) at US$12.49 per share (based on the closing price of US$37.47 per ADS on September 28, 2023) 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 US$300 million, before deducting placement agent fees and offering expenses. The private placement is anticipated to close on October 3, 2023, subject to customary closing conditions.
Latham & Watkins LLP represents the placement agents in the financing with a capital markets team led by San Diego partners Matt Bush and Cheston Larson, with associates Julian Brody and Rachel Staub.
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