On April 6, 2023 AnPac Bio-Medical Science Co., Ltd. (the "Company") (NASDAQ: ANPC), a company with operations in the United States and China focused on early cancer screening and detection and plans to enter into the operation of a business-to-business e-commerce food platform focused on the sale of Asian sourced food products, reported the closing of its previously announced registered direct offering pursuant to a securities purchase agreement with certain institutional investors to purchase $3.0 million of its American Depositary Shares ("ADSs"), pre-funded warrants to purchase ADSs and warrants to purchase ADSs (Press release, Anpac Bio, APR 6, 2023, View Source [SID1234629867]). The Company plans to use the net proceeds from the offering for the advancement of our research and development activities, working capital and general corporate purposes.

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In connection with such offering, the Company sold to the institutional investors a total of 625,000 ADSs priced at $4.00 per ADS, pre-funded warrants exercisable for 125,000 ADSs and warrants exercisable for 750,000 ADSs. The purchase price of each pre-funded warrant is equal to the offering price per ADS, minus $0.0001, and the exercise price of each pre-funded warrant is equal $0.0001 per share. The pre-funded warrants are immediately exercisable and may be exercised at any time until exercised in full. The warrants are immediately exercisable, expire five (5) years from the original issuance date and have an exercise price of $4.00 per ADS. The Company also issued to Univest Securities, LLC, which acted as the sole placement agent for the offering, warrants exercisable for 37,500 ADSs, with an exercise price of $4.80.

The gross proceeds to the Company from the registered direct offering were approximately $3.0 million before deducting the placement agent’s fees and other offering expenses.

The ADSs, the pre-funded warrants, the warrants and the ADSs underlying the pre-funded warrants, the warrants and the placement agent’s warrants were offered pursuant to a prospectus supplement to a shelf registration statement on Form F-3 (File No. 333-256630) previously filed and declared effective by the U.S. Securities and Exchange Commission ("SEC") on June 7, 2021 (the "Shelf Registration Statement"). Such offering was made only by means of such prospectus supplement, which was filed by the Company with the SEC on April 4, 2023.

Univest Securities, LLC acted as the sole placement agent for this offering.