{"url_path":"/sec/casif/10-k/2026/item-9","section_key":"item-9","section_title":"Item 9 THE OFFER AND LISTING**","topic":"sec","document":{"doc_type":"20-F","doc_date":"2026-05-15","source_url":"https://www.sec.gov/Archives/edgar/data/1962738/0001104659-26-061632-index.html","accession_number":"0001104659-26-061632","cik":"0001962738","ticker":"CASIF","issuer_name":"CASI Pharmaceuticals, Inc.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1962738/0001104659-26-061632-index.html","primary_entity_key":"0001962738","primary_entity_name":"CASI Pharmaceuticals, Inc."},"word_count":662,"has_tables":true,"body_markdown":"**ITEM 9. THE OFFER AND LISTING**\n\nA.**Offering and Listing Details**\n\nSee “—C. Markets.”\n\n**B.**\n\n**Plan of Distribution**\n\nNot applicable.\n\n**C.**\n\n**Markets**\n\nOur common stock was trading on The Nasdaq Capital Market under the symbol “CASI.” In May 2022, we completed a 10-to-1 reverse stock split of its common stock.\n\nIn March 2023, we completed a redomicile merger, pursuant to which CASI Delaware merged with and into CASI Cayman, its wholly-owned subsidiary, with CASI Cayman surviving the merger as the surviving company. Pursuant to the redomicile merger, each issued and outstanding share of the common stock of CASI Delaware was converted into the right to receive one ordinary share, par value US$0.0001 each, of CASI Cayman, credited as fully paid. CASI Cayman’s ordinary share continued to trade on the Nasdaq Capital Market under the symbol “CASI.”\n\nIn July 2024, we closed a private investment in public equity financing (the “PIPE Transaction”). In the PIPE Transaction, we sold an aggregate of 1,020,000 ordinary shares of the Company, at a price of $5.00 per ordinary share, and in the case of two investors, pre-funded warrants to purchase up to an aggregate of 1,980,000 ordinary shares at an issuance price of $4.9999 (with an exercise price of US$0.0001). The gross proceeds to the Company from the PIPE were US$15.0 million before deducting the underwriting discounts and commissions and offering expenses payable by the Company. In August 2025, one of the warrant holder net exercised their pre-funded warrants to purchase 980,000 ordinary shares with the exercise price of US$0.0001.\n\nOn February 23, 2026, we received a determination letter from the Hearings Panel (the “Panel”) of The Nasdaq Stock Market (“Nasdaq”), notifying the Company that the Panel determined to delist the Company’s securities from Nasdaq, due to the Company’s failure to satisfy the continued listing conditions as previously disclosed. As a result, the Company securities was suspended and delisted from Nasdaq. Our ordinary shares started to trade on OTCQB market under the ticker “CASIF” on April 14, 2026.\n\n**At-the-Market Offering**\n\nOn May 3, 2024, we filed a registration statement on Form F-3, or the Prior Registration Statement, with SEC, related to the offer and sale of up to an aggregate of $50.0 million of our ordinary shares, preferred shares, warrants, subscription rights, and/or units, from time to time in one or more offerings, pursuant to a combined base prospectus. The Prior Registration Statement was subsequently declared effective on May 10, 2024.\n\nOn December 20, 2024, we filed a registration statement on Form F-3, which combined the Prior Registration Statement, all of which remain unissued, with the additional securities registered thereby for offer and sale by us, to enable the offer and sale of up to an\n\n89\n\n[Table of Contents](#TOC)\n\naggregate of $200.0 million of our ordinary shares, preferred shares, warrants, subscription rights, and/or units, from time to time in one or more offerings, pursuant to a combined base prospectus.\n\nAdditionally, this registration statement contains a Sales Agreement prospectus covering the offering, issuance and sale by us of up to $50.0 million of our ordinary shares that may be issued and sold from time to time under an Open Market Sale Agreement we have entered into with Jefferies LLC, as sales agent, or the Sales Agreement. To date, we have sold 4,053,836 ordinary shares pursuant to the Open Market Sale Agreement for net proceeds of $5.7 million, after deducting sales agent commission.\n\nWe may cancel the at-the-market program at any time upon written notice, pursuant to its terms.\n\nOn February 23, 2026, we received a determination letter from the Hearings Panel (the “Panel”) of The Nasdaq Stock Market (“Nasdaq”), notifying the Company that the Panel determined to delist the Company’s securities from Nasdaq. As a result, the Company securities was suspended and delisted from Nasdaq. Our ordinary shares started to trade on OTCQB market under the ticker “CASIF” on April 14, 2026.\n\n**D.**\n\n**Selling Shareholders**\n\nNot applicable.\n\n**E.**\n\n**Dilution**\n\nNot applicable.\n\n**F.**\n\n**Expenses of the Issue**\n\nNot applicable."}