Belite Bio Prices $1M Direct Offering of ADSs and Warrants

TL;DR

Belite Bio raises $1M via ADS/warrant offering, closing Feb 7.

AI Summary

On February 5, 2025, Belite Bio, Inc. entered into a securities purchase agreement for a registered direct offering of 258,309 American Depositary Shares (ADSs) and warrants to purchase an equal number of ordinary shares. The offering is expected to close on February 7, 2025, with gross proceeds of approximately $1.0 million before deducting offering expenses.

Why It Matters

This capital raise provides Belite Bio with funds that can be used for ongoing research and development, potentially advancing their drug pipeline.

Risk Assessment

Risk Level: medium — The company is raising capital through a direct offering, which can sometimes indicate a need for funds and may dilute existing shareholders.

Key Numbers

• $1.0M — Gross Proceeds (Funds raised from the registered direct offering.)
• 258,309 — ADSs and Warrants (Number of securities sold in the offering.)

Key Players & Entities

• Belite Bio, Inc. (company) — Filer of the 6-K report and party to the securities purchase agreement.
• February 5, 2025 (date) — Date the securities purchase agreement was entered into.
• 258,309 (number) — Number of American Depositary Shares (ADSs) and warrants offered.
• February 7, 2025 (date) — Expected closing date of the offering.
• $1.0 million (dollar_amount) — Approximate gross proceeds from the offering.

FAQ

Key Financial Figures

• $58.07 — ares represented by ADSs, at a price of $58.07 per ADS and accompanying warrant. The w

Filing Documents

• tm255706d1_6k.htm (6-K) — 13KB
• tm255706d1_ex1-1.htm (EX-1.1) — 174KB
• tm255706d1_ex1-2.htm (EX-1.2) — 60KB
• tm255706d1_ex4-1.htm (EX-4.1) — 90KB
• tm255706d1_ex99-1.htm (EX-99.1) — 8KB
• tm255706d1_ex99-1img001.jpg (GRAPHIC) — 3KB
• 0001104659-25-009895.txt ( ) — 351KB

From the Filing

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15b-16 OF THE SECURITIES EXCHANGE ACT OF 1934 For the month of February 2025 Commission File Number: 001-41359 Belite Bio, Inc (Exact name of registrant as specified in its charter) Not Applicable (Translation of Registrant´s name into English) 12750 High Bluff Drive Suite 475, San Diego, CA 92130 (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F. Form 20-F Form 40-F On February 5, 2025, Belite Bio, Inc (the “Company”) entered into a securities purchase agreement (the “Securities Purchase Agreement”) with an institional investor, relating to the registered direct offering (the “Offering”) of 258,309 American Depositary Shares, or ADSs, each representing one ordinary share, and warrants to purchase 258,309 ordinary shares represented by ADSs, at a price of $58.07 per ADS and accompanying warrant. The warrants are exercisable immediately, expire five years from the date of issuance and have an exercise price of $58.07 per ADS. The closing of the Offering is expected to occur on or about February 7, 2025, subject to the satisfaction of customary closing conditions. Pursuant to the Securities Purchase Agreement, the Company agreed, subject to limited exceptions, for a period of 60 days after the closing of the Offering, not to offer, sell, contract to sell, pledge, grant any option to purchase, make any short sale or otherwise dispose of, directly or indirectly any ADSs or Ordinary Shares or securities convertible, exchangeable or exercisable into, ADSs or Ordinary Shares. The Company also entered into an agreement, (the “Placement Agency Agreement”), with Titan Partners Group LLC, a division of American Capital Partners, LLC, as sole placement agent (the “Placement Agent”), dated February 5, 2025, pursuant to which the Placement Agent agreed to serve as the Placement Agent for the Company in connection with the Offering. The Offering was made pursuant to the Company’s shelf registration statement on Form F-3 (File No. 333-284521), which was declared effective on January 27, 2025. Copies of the form of Securities Purchase Agreement and the form of Placement Agency Agreement are attached hereto as Exhibit 1.1 and Exhibit 1.2, respectively, and are incorporated herein by reference. A copy of the form of warrant is attached hereto as Exhibit 4.1 and is incorporated herein by reference. The foregoing descriptions of the Securities Purchase Agreement, Placement Agency Agreement and warrants do not purport to be complete and are attached hereto as Exhibits 1.1, 1.2 and 4.1, respectively, and are incorporated herein by reference. This Report on Form 6-K shall be deemed to be incorporated by reference into all effective registration statements filed by the registrant under the Securities Act of 1933, and shall be a part thereof from the date on which this report is filed, to the extent not superseded by documents or reports subsequently filed or furnished. EXHIBIT INDEX Exhibit 1.1 — Form of Securities Purchase Agreement Exhibit 1. 2 — Form of Placement Agency Agreement Exhibit 4.1 — Form of Warrant Exhibit 99.1 — Press Release SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Belite Bio, Inc By: /s/ Yu-Hsin Lin Name: Yu-Hsin Lin Title: Chief Executive Officer and Chairman Date: February 6, 2025

View Full Filing

View this 6-K filing on SEC EDGAR