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TLC Announces Pricing of Initial Public Offering of American Depositary Shares (ADSs) on Nasdaq

TAIPEI, Taiwan and SOUTH SAN FRANCISCO, Calif., Nov. 21, 2018 (GLOBE NEWSWIRE) -- Taiwan Liposome Company, Ltd. (4152.TWO) (TLC), a clinical-stage specialty pharmaceutical company dedicated to the development and commercialization of novel nanomedicines designed to target areas of unmet medical need in pain management, ophthalmology, and oncology, today announced the pricing of its initial public offering of 3,750,000 American Depositary Shares (ADSs), each representing two of TLC’s common shares, at a public offering price of $5.80 per ADS, raising gross proceeds of approximately $21.75 million before deducting underwriting discounts, commissions and offering expenses.

In addition, TLC has granted the underwriters an option, exercisable at any time through and until one day before the closing date of the offering, to purchase up to 562,500 additional ADSs at the public offering price, less underwriting discounts and commissions, to cover over-allotments, if any. TLC’s ADSs are expected to begin trading on the Nasdaq Global Market on November 21, 2018 under the symbol "TLC." The offering is expected to close on or around November 27, 2018, subject to customary closing conditions.

Cantor Fitzgerald & Co. is acting as the sole book-running manager for the offering. CLSA Limited, H.C. Wainwright & Co., LLC, Janney Montgomery Scott LLC, and Laidlaw & Company (UK) Ltd. are acting as co-managers.

A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission and was declared effective on November 20, 2018.

The offering is being made only by means of a prospectus. A preliminary prospectus describing the terms of the offering has been filed with the U.S. Securities and Exchange Commission and forms a part of the effective registration statement. A copy of the final prospectus relating to the offering will be filed with the U.S. Securities and Exchange Commission and may be obtained, when available, from Cantor Fitzgerald & Co., Attention: Capital Markets, 499 Park Avenue, 6th Floor New York, New York 10022; Email: prospectus@cantor.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

FORWARD-LOOKING STATEMENTS
This press release includes forward-looking statements regarding TLC’s financing plans, including statements related to the closing of TLC's offering of ADSs. Any statement describing TLC's goals, expectations, financial or other projections, intentions or beliefs is a forward-looking statement. Such statements are subject to inherent uncertainties, risks and changes in circumstances, which could cause results to differ materially from those expressed or implied by such forward-looking statements. Some of these risks and uncertainties are described in TLC’s registration statement on Form F-1, which is on file with the SEC.

 

CONTACT: Contacts:

Taiwan Liposome Company (TLC)
Dawn Chi
Corporate Communications
+886 2 2655 7377 ext. 136
dawn@tlcbio.com

Solebury Trout
Julia Balanova
Vice President
+1 646 378 2936
jbalanova@trougroup.com
Wednesday, November 21, 2018 - 04:39