Everest Medicines Limited's Investment in I-MAB

Everest Medicines Limited, a biopharmaceutical company listed on the Hong Kong Stock Exchange, has filed a Schedule 13D with the SEC, disclosing its investment in I-MAB. The filing reveals that Everest Medicines Limited participated in an underwritten offering by I-MAB, subscribing for 15,846,150 ADSs at US$1.95 per ADS, amounting to an aggregate consideration of US$30,899,992.50. This investment was funded by Everest Medicines Limited's working capital. The company holds sole voting and dispositive power over these ADSs and 6,078,571 ordinary shares, representing approximately 16.1% of I-MAB's outstanding shares. The filing indicates that the investment was made for the purpose of increasing the value of Everest Medicines Limited's investments and I-MAB. The company reserves the right to increase or decrease its holdings in I-MAB based on various factors, including market conditions and I-MAB's business prospects. The filing also confirms that neither Everest Medicines Limited nor its directors and executive officers have been involved in any legal proceedings related to securities laws in the past five years.