SAN DIEGO, Feb. 05, 2025 (GLOBE NEWSWIRE) -- Belite Bio, Inc ("BLTE" or the "Company") (Nasdaq: BLTE), a clinical-stage biopharmaceutical drug development company focused on advancing novel therapeutics targeting degenerative retinal diseases that have significant unmet medical needs, today announced that it has entered into a securities purchase agreement with a new, fundamental healthcare investor for the purchase and sale of 258,309 American Depositary Shares (“ADSs”) and warrants to purchase 258,309 ADSs, at a purchase price of $58.07 per ADS and accompanying warrant, pursuant to a registered direct offering, equivalent to today’s closing price. The offering is expected to result in gross proceeds of approximately $15 million, before deducting offering expenses, as well as the potential for additional proceeds of approximately $15 million from the exercise of five-year warrants issued in the offering. The closing of the offering is expected to occur on or about February 7, 2025, subject to the satisfaction of customary closing conditions.

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Belite Bio Announces Registered Direct Offering of $15 Million