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Ascentage Pharma Announces Partial Exercise of Underwriters' Option to Purchase Additional American Depositary Shares

1. Ascentage Pharma's IPO included a partial over-allotment exercise. 2. 935,144 additional ADSs were purchased at $17.25 each. 3. Total ADSs sold increased to 8,260,144, raising $142.5 million. 4. J.P. Morgan and Citigroup managed the offering.

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Why Bullish?

The increased capital from the IPO can strengthen AAPG's growth prospects. Similar past IPOs have led to stock price increases.

How important is it?

The financing provides AAPG with necessary resources for development. Investors may view this positively, influencing price expectations.

Why Short Term?

The immediate financial influx can boost investor confidence quickly. Historically, IPO-related news often impacts stock prices soon after announcements.

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HKEX: 6855
February 07, 2025 08:24 ET  | Source: ASCENTAGE PHARMA GROUP INTERNATIONAL ROCKVILLE, Md. and SUZHOU, China, Feb. 07, 2025 (GLOBE NEWSWIRE) -- Ascentage Pharma (Nasdaq: AAPG, HKEX: 6855) announced today that the underwriters of its underwritten U.S. initial public offering (the “Offering”) have partially exercised their over-allotment option to purchase an additional 935,144 American depositary shares (“ADSs”) at the initial public offering price of $17.25 per ADS less underwriting discounts and commissions. Each ADS represents four ordinary shares of Ascentage Pharma. After giving effect to the partial exercise of the over-allotment option, the total number of ADSs sold by Ascentage Pharma in the Offering will increase to 8,260,144 ADSs and the aggregate gross proceeds to Ascentage Pharma will be approximately $142.5 million, before deducting underwriting discounts and commissions and other offering expenses payable by Ascentage Pharma. The closing of the over-allotment option is subject to customary closing conditions. 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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