Baiji Shenzhou's core shareholders sold their shares

December 2nd, Baiji Shenzhou announced that Baker Bros., the company's core shareholder, had made a statement. Advisors LP Affiliated Funds ("Offering Shareholders") price 1511,546 American Deposits (ADS) registered for public offering. ADS per share is equivalent to 13 common shares with a face value of $0.0001 per share, and the public offering price for ADS per share is $225.addition, the offering shareholder has granted the underwriters of the offering a total of 151,154 ADS over-alloned shares at the public offering price within 30 days, less underwriting discounts and commissions. Baiji Shenzhou will not receive any proceeds from the sale of its shares by the offering shareholders, but will bear certain fees (excluding underwriting discounts and commissions) associated with this offering.The issue is expected to close on Friday, December 4, 2020, with the usual delivery conditions met. That means Baker Bros. Advisors LP associated funds will cash out more than $300 million.As a result of this news, Baiji Shenzhou's share price fell. Recently, Baiji Shenzhou announced its plans to list on the Science and Technology Board, once successful, Baiji Shenzhou will become the first local innovative pharmaceutical companies listed in the United States, Hong Kong and A-shares at the same time. (
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