O’Melveny Worldwide

O’Melveny Represents Adlai Nortye in Approximate US$100 Million Nasdaq IPO

September 29, 2023


NEW YORK AND SHANGHAI, SEPTEMBER 29, 2023 — O’Melveny recently represented Adlai Nortye Ltd. (NASDAQ: ANL) in its IPO on the Nasdaq.  Adlai Nortye expects to receive aggregate gross proceeds of US$97.5 million, including US$57.5 million from public offering and US$40 million from the concurrent private placement. Assuming the over-allotment option is exercised in full, the aggregate gross proceeds to be received by Adlai Nortye may reach up to approximately US$106.1 million.

Notably, this is the first US IPO of a China-originated company since the China Securities Regulatory Commission (CSRC) adopted measures, in March of this year, seeking to align and unify the institutional requirements and regulatory systems for all overseas offerings and listings by PRC domestic companies outside of China.

O’Melveny represented Adlai Nortye with respect to US law.  Cantor Fitzgerald & Co. acted as sole book-running manager for the public offering.

Adlai Nortye is a global clinical-stage biotechnology company focused on the discovery and development of innovative cancer therapies for patients across the spectrum of tumor types, with global R&D centers established in New Jersey and Hangzhou.

The O’Melveny team was led by corporate partners Ke Geng, Vincent Lin, Ke Zhu, and Rob Plesnarski, and included counsel Aaron Xin, associate Fan Wu, and legal consultants Minhui Chen, Xingyan Zhou, and Daniel Tian. Counsel Bo Li and Dawn Lim also provided valuable assistance.

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Brandon Jacobsen
O’Melveny & Myers LLP
+1 213 430 8024

Chris Schob
O’Melveny & Myers LLP
+86 21 2307 7000

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