Adlai Nortye prices 64.6M shares at $2.17 in private placement

Adlai Nortye (ANL) entered into securities purchase agreements for a private investment in public equity financing that is expected to result in gross proceeds of approximately $140M, before deducting placement agent fees and other expenses. In the private placement, the Company is selling 64,615,386 Class A ordinary shares of the Company at a price of $2.1667 per Class A ordinary shares. The private placement was co-led by Cormorant Asset Management and Columbia Threadneedle Investments with participation from both new and existing investors including Balyasny Asset Management L.P., Point72, Squadron Capital Management and Casdin Capital. The private placement includes the sale of approximately $55M of Class A ordinary Shares to the entities controlled by Yang Lu, Chairman and CEO. Jefferies, Leerink Partners, Lucid Capital Markets, H.C. Wainwright & Co. and Jones are acting as joint placement agents for the private placement.