InSilico Medicine plans US$305 million convertible bond sale

InSilico Medicine Cayman TopCo said that on August 27, 2026, after trading hours, it signed a subscription agreement to issue bonds in an aggregate principal amount of US$305,000,000. The Manager, Deutsche Bank AG, Hong Kong Branch, is sole global coordinator, sole lead manager and sole bookrunner. It agreed to subscribe for the bonds or procure subscribers to take them up, acting as underwriter. The bonds are zero coupon.

The bonds are convertible into shares at an initial conversion price of HK$58.07 per share, subject to adjustments. That price is a premium of approximately 23.5% over the closing price of HK$47.02 per share on August 27, 2026. It is also a premium of approximately 32.9% over the average closing price of HK$43.70 per share for the five consecutive trading days before the agreement.

If the bonds were fully converted at that price, they would convert into approximately 41,174,737 shares. The announcement puts that at about 7.07% of the issued share capital as at August 27, 2026, and about 6.60% of the share capital as enlarged by full conversion.

Gross proceeds are expected to be approximately US$305 million. After the Manager's commissions and other estimated expenses, net proceeds are estimated at approximately US$301.6 million. The announcement gives an estimated net issue price of about HK$57.42 per conversion share. The issue is made under the general mandate, and completion is subject to the conditions in the subscription agreement. Most net proceeds are earmarked for clinical trials and R&D.

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