Structure Therapeutics Announces Pricing of Upsized Initial Public Offering

February 6, 2023

SAN FRANCISCO and SHANGHAI, China, Feb. 02, 2023 (GLOBE NEWSWIRE) -- Structure Therapeutics Inc. (NASDAQ: GPCR), a clinical-stage global biopharmaceutical company developing novel oral small molecule therapeutics for metabolic and pulmonary diseases, today announced the pricing of its upsized initial public offering of 10,740,000 American depositary shares (ADSs), each representing three ordinary shares, at a public offering price of $15.00 per ADS, and began trading on February 3, 2023. The aggregate gross proceeds to Structure Therapeutics from the offering are expected to be $161.1 million before deducting underwriting discounts and commissions and offering expenses. In addition, Structure Therapeutics has granted the underwriters a 30-day option to purchase up to an additional 1,611,000 ADSs at the initial public offering price, less underwriting discounts and commissions.

Stork Capital participated in the $100 million Series B financing in October 2021 and generated a 6.5x cash on cash return on its investment at IPO.

Jefferies, SVB Securities, Guggenheim Securities, and BMO Capital Markets are acting as joint book-running managers for the offering.