TransThera Sciences (Nanjing), Inc. (abbreviated “TransThera Sciences”) on 14 April 2026 signed a conditional placing agreement with Macquarie Capital Limited to issue 5.09 million new H shares at HK$57.03 each. The transaction, conducted under the company’s existing general mandate, is on a best-effort basis and targets at least six professional or institutional investors.
Key terms and valuation • Placement size represents 1.27% of the company’s total issued shares and 1.65% of outstanding H shares. • The offer price is set at an 18.00% discount to the 14 April closing price of HK$69.55 and a 19.20% discount to the five-day average of HK$70.58. • Gross proceeds are expected to reach HK$290.00 million; after fees and expenses, net proceeds are estimated at HK$282.15 million, implying a net issue price of HK$55.49 per share.
Intended use of proceeds • 57% (approximately HK$160.83 million) earmarked for R&D, primarily the registrational and indication-expansion studies of core product Tinengotinib and the clinical development of TT-00973. • 33% (approximately HK$93.11 million) allocated to manufacturing and commercialisation of Tinengotinib in mainland China, including build-out of commercial teams and marketing activities. • 10% (approximately HK$28.21 million) reserved for working capital and general corporate purposes.
Impact on capital structure Upon completion, total issued shares will rise from 398.99 million to 404.08 million. H-share free float will expand to 308.85 million, lifting the H-share proportion of total share capital from 76.13% to 76.43%. No placee is expected to become a substantial shareholder.
Mandate capacity and lock-up The placement utilises the August 2025 general mandate that allows issuance of up to 79.38 million new shares; after accounting for this deal and the 2.10 million shares placed in January 2026, 72.19 million shares remain available under the mandate. The company has agreed to a 30-day lock-up on further equity issuance, expiring 14 May 2026.
Recent fund-raising activity • January 2026: 2.10 million H shares placed at HK$92.85, raising HK$194.99 million gross (HK$190.14 million net), with proceeds still unutilised as of 28 February 2026. • June 2025 IPO: 15.28 million H shares raised HK$161.30 million net; HK$48.60 million has been spent, mainly on Tinengotinib’s Phase III trials.
Next steps Completion is contingent on customary conditions, including Stock Exchange approval for listing the new shares and the absence of specified termination events. The closing date is expected on or around 22 April 2026. Shareholders and potential investors are advised to exercise caution, as the placement may or may not proceed.