Belite Bio Secures $15 Million in Direct Offering with Healthcare Investor

• Belite Bio has entered into a securities purchase agreement with a healthcare investor, securing approximately $15 million in gross proceeds.

• The company may raise an additional $15 million from the exercise of five-year warrants issued in the offering.

Belite Bio, Inc., a clinical-stage biopharmaceutical company focused on treatments for degenerative retinal diseases, has announced a direct offering agreement with a fundamental healthcare investor. The transaction includes the sale of 258,309 American Depositary Shares (ADSs) and warrants to purchase an equal number of ADSs, priced at $58.07 per unit. The offering is expected to generate gross proceeds of approximately $15 million before expenses.

The warrants, valid for five years, could provide Belite Bio with an additional $15 million if fully exercised. The offering is expected to close on or around February 7, 2025, subject to customary closing conditions.

The company stated that the net proceeds will be allocated towards working capital and general corporate purposes. Titan Partners Group, a division of American Capital Partners, is serving as the sole placement agent for the offering.

The securities are being issued under a previously filed shelf registration statement with the U.S. Securities and Exchange Commission (SEC). The offering will be conducted via a prospectus supplement, which will be filed with the SEC and made available online.