Belite Bio Announces $125M PIPE Financing At $64/Share With 1.95M Shares and Warrants; Potential Additional $150M At $76.80/Share

Author: Benzinga Newsdesk | September 08, 2025 07:07am

• Transaction led by RA Capital Management with participation from Eventide Asset Management, Marshall Wace, RTW Investments, Soleus Capital and Vestal Point Capital
• $125 million financing upfront with up to an additional $150 million tied to exercise of warrants
• Warrants exercisable at a 20% premium to purchase price
  
   

SAN DIEGO, Sept. 08, 2025 (GLOBE NEWSWIRE) -- Belite Bio, Inc ("Belite Bio" or the "Company") (NASDAQ:BLTE), a clinical-stage 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 securities purchase agreements with leading healthcare investors for a private placement in public equity financing (the "PIPE") that is expected to result in gross proceeds of approximately $125 million, before deducting placement agent fees and estimated offering expenses, and up to an additional approximately $150 million in gross proceeds if the accompanying warrants are fully exercised for cash.

Tom Lin, Chairman and Chief Executive Officer of Belite Bio, said, "We are grateful for the support from this group of leading healthcare investors in our work to bring novel and potentially transformative treatments for retinal degenerative eye diseases with significant unmet medical need. We thank these investors for their vote of confidence in the potential of tinlarebant to help people with Stargardt disease and geographic atrophy in advanced dry age-related macular degeneration. We view this investment as validation of RBP4 inhibition as a mechanism of action and more generally of our scientific approach to treating these diseases. We expect that the net proceeds will allow us to continue to advance tinlarebant as we seek to deliver a better option for patients with Stargardt disease and geographic atrophy."

Private Placement

Pursuant to the terms of the securities purchase agreements, at the closing of the PIPE, Belite Bio will issue 1,953,124 ordinary shares and warrants to purchase 1,953,124 ordinary shares, at a purchase price of $64.00 per ordinary share and accompanying warrant (the "PIPE Purchase Price"). Each warrant will be immediately exercisable with an exercise price of $76.80 per ordinary share, representing a 20% premium to the PIPE purchase price, and will expire two years from the date of issuance. The PIPE is expected to result in gross proceeds of approximately $125 million at close, before deducting placement agent fees and estimated offering expenses, as well as the potential for additional proceeds of approximately $150 million from the exercise of the warrants issued in the PIPE. The closing of the PIPE is expected to occur on or about September 9, 2025, subject to the satisfaction of customary closing conditions.

The PIPE was led by RA Capital Management and included participation from Eventide Asset Management, Marshall Wace, RTW Investments, Soleus Capital and Vestal Point Capital.

The Company intends to use the net proceeds from the PIPE for commercialization preparation, working capital and general corporate purposes.

Morgan Stanley is acting as the sole placement agent for the PIPE.

Posted In: BLTE