Company: CNTB
Filing Date: 2025-09-10
Form Type: POS AM
Source: 0001193125-25-200186
Chunk: 75

Company: Connect Biopharma Holdings Ltd
Filing Date: 2025-09-10
Form: POS AM
Chunk 75
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 cash flow.

It is not possible to predict the number of Ordinary Shares sold under the Sales Agreement.

Subject to certain limitations in the Sales Agreement and compliance with applicable law, we have the discretion
to deliver a placement notice to the Sales Agent at any time throughout the term of the Sales Agreement. The number of Ordinary Shares that are sold through the Sales Agent after our delivery of a placement notice will fluctuate based on a number of
factors, including the market price of the Ordinary Shares during the sales period, any limits we may set with the Sales Agent in any applicable placement notice and the demand for the Ordinary Shares. If the market price of our Ordinary Shares
during the sales period declines, we would be able to potentially sell a higher number of Ordinary Shares than the number based on the current market price of our Ordinary Shares and, in any event, we may choose to sell a lower number of Ordinary
Shares than the $150,000,000 of our Ordinary Shares set forth on the cover of this prospectus.

The Ordinary Shares offered hereby will be sold in “at-the-marketofferings” and investors who buy Ordinary Shares at different times will likely pay different prices.

Investors who purchase Ordinary Shares in this offering at different times likely will pay different prices, and accordingly
may experience different levels of dilution and different outcomes in their investment results. We will have discretion, subject to market demand, to vary the timing, prices and number of Ordinary Shares sold in this offering. In addition, subject
to the final determination by our Board of Directors or any restrictions we may place in any applicable placement notice, there is no minimum or maximum sales price for Ordinary Shares to be sold in this offering. Investors may experience a decline
in the value of the Ordinary Shares they purchase in this offering as a result of sales made at prices lower than the prices they paid.

You may experience immediate and substantial dilution in the book value per Ordinary Share you purchase.

The offering
price per Ordinary Share in this offering may exceed the net tangible book value per Ordinary Share outstanding prior to this offering. If holders of outstanding options exercise those options at prices below

13

the price you pay, you would experience further dilution. Because the sales of the Ordinary Shares offered hereby will be made directly into the market, the prices at which we sell these Ordinary
Shares will vary and these variations may be significant. Purchasers of the Ordinary Shares we sell, as well as holders of our existing Ordinary Shares, will experience significant dilution if we sell Ordinary Shares at