O’Melveny Represents Belite Bio in Nasdaq IPOMay 10, 2022
FOR IMMEDIATE RELEASE
O’Melveny recently represented Belite Bio, Inc in its IPO on the Nasdaq (Nasdaq: BLTE). The total gross proceeds of the offering were US$36 million before the underwriter chooses to exercise its over-allotment option to issue up to an additional 900,000 ADSs. Belite made its first public filing with the SEC on April 5, 2022, priced on April 28, 2022 and listed on Nasdaq on April 29, 2022. The closing took place on May 3, 2022.
Headquartered in San Diego, Belite is a clinical stage biopharmaceutical drug development company focused on novel therapeutics targeting currently untreatable eye diseases involving retinal degeneration, such as atrophic age-related macular degeneration (commonly known as dry AMD) and autosomal recessive Stargardt disease (STGD1), both of which progressively lead to permanent blindness, and certain metabolic diseases such as nonalcoholic fatty liver disease (NAFLD), nonalcoholic steatohepatitis (NASH), type 2 diabetes (T2D) and gout.
The Benchmark Company is acting as the lead underwriter of this offering.
The O’Melveny team was led by corporate partners Portia Ku and Vincent Lin, and counsel Jane Wu, and included associate Qianru Hong and legal consultant Yutong Xie and legal consultant Yingqi Gu. Partner Rob Plesnarski advised on SEC related issues. Partner Kurt Berney and counsel James Harrigan advised on legal opinion and warrant related issues. Partner Robert Fisher, counsel Billy Abbott and associate Dawn Lim provided tax-related advice.
O’Melveny previously represented the company on its pre-IPO financings.
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