06:00 PM EDT, 06/12/2024 (MT Newswires) -- ASLAN Pharmaceuticals ( ASLN ) proposed a resale of 61.9 million ordinary shares, represented by almost 2.48 million American depositary shares.

The company said Wednesday in a regulatory filing that under a so-called K2 loan agreement, lenders may elect to convert any portion of up to $1.3 million of the principal amount of the loan then outstanding into ordinary shares at a conversion price of $0.0210 per ordinary share, or $0.525 per ADS.

Each ADS represents 25 ordinary shares.

The company is not selling shares in the offering and will not receive any proceeds from the sale or other disposition by the selling shareholder.

Shares of the company fell 2.9% in after-hours activity.

Price: 0.4010, Change: -0.01, Percent Change: -2.91