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Ascentage Pharma Announces Closing of U.S. Initial Public Offering

1. Ascentage Pharma closed IPO of 7.325 million ADS at $17.25. 2. The offering raised approximately $126.4 million in gross proceeds. 3. Trading on the Nasdaq began on January 24, 2025. 4. Underwriters have a 30-day option for additional ADS purchases. 5. Ascentage specializes in therapies for hematological malignancies.

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Why Bullish?

The successful IPO and substantial capital raised are positive indicators, reminiscent of past biotech IPOs that led to stock price increases.

How important is it?

The IPO signifies financial health and growth potential, critical for investor confidence and future stock performance.

Why Short Term?

Initial trading reactions often reflect recent capital events, as seen with similar biotech firms post-IPO.

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6855.HK
January 28, 2025 16:01 ET  | Source: ASCENTAGE PHARMA GROUP INTERNATIONAL ROCKVILLE, Md. and SUZHOU, China, Jan. 28, 2025 (GLOBE NEWSWIRE) -- Ascentage Pharma (Nasdaq: AAPG) (HKEX: 6855) announced today the closing of its U.S. initial public offering of 7,325,000 American depositary shares (“ADSs”), at a public offering price of $17.25 per ADS, before underwriting discounts and commissions. Each ADS represents four ordinary shares of Ascentage Pharma. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Ascentage Pharma, was approximately $126.4 million. In addition, Ascentage Pharma has granted the underwriters a 30-day option to purchase up to an additional 1,098,750 ADSs at the initial public offering price, less underwriting discounts and commissions. The ADSs began trading on the Nasdaq Global Market on January 24, 2025. J.P. Morgan and Citigroup acted as joint book-running managers for the offering. About Ascentage Pharma Ascentage Pharma is a global, integrated biopharmaceutical company engaged in discovering, developing and commercializing therapies to address global unmet medical needs primarily in hematological malignancies. Ascentage Pharma has been listed on the Main Board of the Stock Exchange of Hong Kong Limited with the stock code 6855.HK since October 2019 and has also been listed on the Nasdaq Global Market under the ticker symbol “AAPG” since January 2025. Contacts Investor Relations Hogan Wan, Head of IR and StrategyAscentage PharmaHogan.Wan@ascentage.com+86 512 85557777 Stephanie CarringtonICR HealthcareStephanie.Carrington@icrhealthcare.com(646) 277-1282  Media Relations Sean LeousICR HealthcareSean.Leous@icrhealthcare.com(646) 866-4012

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