Exhibit 99.1
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ASCENTAGE PHARMA GROUP INTERNATIONAL
亞盛醫藥集團
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 6855)
PARTIAL EXERCISE OF THE OVER-ALLOTMENT OPTION IN RELATION TO
THE OFFERING OF AMERICAN DEPOSITARY SHARES
Reference is made to the announcements of Ascentage Pharma Group International (the “Company”) dated June 14, 2024, December 29, 2024, January 21, 2025, January 24, 2025 and February 2, 2025 in relation to the offering of ADSs in the United States by the Company (the “Announcements”). Unless otherwise defined, capitalized terms used herein shall have the same respective meanings as those defined in the Announcements.
The Board is pleased to announce 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 ADSs at the initial public offering price of US$17.25 per ADS less underwriting discounts and commissions. Each ADS represents four ordinary shares of the Company. After giving effect to the partial exercise of the Over-allotment Option, the total number of ADSs sold by the Company in the Offering will increase to 8,260,144 ADSs and the aggregate gross proceeds to the Company will be approximately US$142.5 million, before deducting underwriting discounts and commissions and other offering expenses payable by the Company. The closing of the Over- allotment Option is subject to customary closing conditions.
J.P. Morgan Securities LLC and Citigroup Global Markets Inc. acted as joint book-running managers for the Offering.
The Company will make further announcement(s) relating to the progress and closing of the Over-allotment Option as and when appropriate in compliance with the requirements under the Listing Rules to keep the Shareholders and potential investors of the Company informed.
By Order of the Board
Ascentage Pharma Group International Dr. Yang Dajun
Chairman and Executive Director
Suzhou, the PRC, February 7, 2025
As at the date of this announcement, the Board comprises Dr. Yang Dajun as Chairman and executive Director, Dr. Wang Shaomeng and Dr. Lu Simon Dazhong as non-executive Directors, and Mr. Ye Changqing, Mr. Ren Wei, Dr. David Sidransky, Ms. Marina S. Bozilenko, Dr. Debra Yu and Marc E. Lippman, MD as independent non-executive Directors.