#None #Aadi Bioscience #AADI #PIPE Financing

Aadi Bioscience Completes $100 Million PIPE Financing

Aadi Bioscience Inc. (Nasdaq: AADI), a leading company in oncology therapeutics, has recently announced the closure of a significant private investment in public equity (PIPE) financing, successfully raising approximately $100 million. This notable financial milestone signifies a crucial step in advancing its innovative cancer treatment technologies.

The private placement was spearheaded by Ally Bridge Group and saw participation from several prominent investors including OrbiMed, Invus, Kalehua Capital, and notable figures such as Tae Han, co-founder of ProfoundBio. Existing investors also contributed capital, including Avoro Capital, KVP Capital, and Acuta Capital Partners. A total of 21,592,000 shares of Aadi's common stock were sold at a price of $2.40 per share, along with pre-funded warrants allowing the purchase of 20,076,500 additional shares at a minimal cost of $2.3999 each.

Jefferies LLC served as the exclusive placement agent for this private placement, which was executed under exemption from the registration requirements of the Securities Act of 1933. Aadi intends to allocate the proceeds primarily to address upfront payments mandated by its license agreement with WuXi Biologics in Shanghai and to bolster general working capital needs.

In addition to this funding, Aadi's strategic planning includes the expected revenues from the recent sale of its FYARRO® business. The company anticipates that this comprehensive fund management strategy will ensure robust operational capabilities through 2028, facilitating key clinical data readouts crucial for their ADC portfolio.

The newly issued Common Stock and pre-funded warrants from this financing round will not be registered under the Securities Act, implying certain restrictions on their sale or transfer until suitable registration is undertaken. Aadi will file a resale registration statement with the U.S. Securities and Exchange Commission to enable potential liquidity for investors.

Aadi Bioscience's unique position in the oncology space is underscored by its commitment to leveraging advanced technologies to provide effective treatment options for patients grappling with challenging cancers. The recent financial influx will empower the company further to explore groundbreaking therapies, paving the way for improved patient outcomes.

Looking Ahead

As Aadi continues its journey in precision oncology, it remains committed to a future filled with innovation and growth in cancer treatment. The company's approach combines deep-rooted biological understanding of tumors with cutting-edge technological applications, aiming to set new standards in cancer care.

As Aadi embarks on the path outlined by this recent financing round, stakeholders and industry analysts alike will be closely monitoring the development of its clinical programs and how it harnesses the newly acquired capital to transform cancer treatment methodologies.

Aadi's strategic vision, coupled with this substantial financial backing, positions the company well to achieve its lofty goals in the fast-evolving field of oncology.

Note: The statements made regarding future events and projections are considered forward-looking and come with inherent risks and uncertainties.