Hutchison China MediTech (NASDAQ:HCM) intends to offer $110M of American Depositary Shares (“ADSs”), each representing five ordinary shares, par value $0.10 per share.
Underwriters’ over-allotment is an additional $16.5M of ADSs.
Price, size and final terms of the offering are not yet determined.
The net proceeds will be used to fund R&D activities and expand commercialization capabilities.
Shares are down 4% premarket.
Merck expands licensing agreement with Theramex for oral contraceptive
Merck (NYSE:MRK) expands its agreement with Theramex related to oral contraceptive Zoely, expanding the latter’s marketing rights from 11 European countries to more than 50 worldwide.
Merck retains the rights in the U.S. and Canada.
Financial terms are not disclosed.
National Vision expands Walmart agreement
National Vision Holdings (NASDAQ:EYE) subsidiary National Vision has amended its agreement with Walmart (NYSE:WMT) adding five new in-store vision centers (located in Georgia) that it will manage, bringing the total to 231 locations.
The parties have also extended their partnership to February 23, 2021, which will automatically renew for an additional three years unless one party notifies the other no later than July 23 that it does not intend to renew the deal.
EYE is up 13% after hours.
Neurotrope secures $18M capital raise
Neurotrope (NTRP -0.3%) has received commitments from certain institutional and private investors to purchase 18,000 shares of its Series D Convertible Preferred Stock at $1,000 per share yielding gross proceeds of $18M.
The Series D Stock is convertible into ~10.9M common shares. Buyers will also receive five-year warrants to purchase up to the same number of common shares at $1.65.
Net proceeds should be ~$16.4M. Closing date is January 23.
Quest Diagnostics (NYSE:DGX) has acquired Blueprint Genetics for an undisclosed sum. The Helsinki, Finland-based specialty genetic testing company has particular know-how in gene variant interpretation based on next-gen sequencing and proprietary bioinformatics. It offers 3,900 targeted single gene and over 200 panel tests across 14 medical specialties.
