Belite Bio Announces Exercise of Warrants for US$28.75 Million Gross Proceeds

Core Viewpoint - Belite Bio, Inc has entered into a definitive agreement for the immediate exercise of outstanding warrants, which will generate approximately US$28.75 million in gross proceeds for the company [1][2]. Group 1: Financial Details - The company will exercise warrants to purchase up to 651,380 ordinary shares at an exercise price of US$44.14 per share [1]. - The new warrants will allow the purchase of the same number of ordinary shares at an exercise price of US$70.00 per share, potentially generating an additional US$45.6 million if fully exercised [3]. Group 2: Regulatory and Compliance - The ordinary shares from the warrant exercise are registered under an effective registration statement filed with the SEC [2]. - The new warrants are offered in a private placement and have not been registered under the Securities Act of 1933, meaning they cannot be sold in the U.S. without proper registration or exemption [4]. Group 3: Company Overview - Belite Bio is focused on developing novel therapeutics for degenerative retinal diseases, including atrophic age-related macular degeneration and Stargardt disease type 1 [6].