Hillhouse Investment Management, Ltd. - Jan 30, 2024 Form 4 Insider Report for ArriVent Biopharma, Inc. (AVBP)

Role: 10%+ Owner
Signature: Hillhouse Investment Management, Ltd., by /s/ Audrey Woon, Chief Compliance Officer
Stock symbol: AVBP
Transactions as of: Jan 30, 2024
Transactions value $: $9,999,990
Form type: 4
Date filed: 2/1/2024, 04:47 PM
Previous filing: Jan 25, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	AVBP	Common Stock	Conversion of derivative security		+3.62M			3.62M	Jan 30, 2024	See footnotes	F1, F2, F3, F5, F6
transaction	AVBP	Common Stock	Conversion of derivative security		+313K	+8.66%		3.93M	Jan 30, 2024	See footnotes	F1, F2, F3, F5, F6
transaction	AVBP	Common Stock	Purchase	$10M	+556K	+14.14%	$18.00^*	4.48M	Jan 30, 2024	See footnotes	F4, F5, F6

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	AVBP	Series A Preferred Stock	Conversion of derivative security	$0	-55M	-100%	$0.00^*	0	Jan 30, 2024	Common Stock	3.62M		See footnotes	F1, F2, F5, F6
transaction	AVBP	Series B Preferred Stock	Conversion of derivative security	$0	-4.76M	-100%	$0.00^*	0	Jan 30, 2024	Common Stock	313K		See footnotes	F1, F3, F5, F6

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Immediately prior to the closing of the Issuer's initial public offering, each share of Series A Preferred Stock and Series B Preferred Stock converted into shares of common stock on a 15.21-for-1 basis.
F2	The securities reported herein are held by VSUM VI Holdings Limited ("VSUM VI") and VSUM VIII Holdings Limited ("VSUM VIII"). VSUM VI is a wholly owned subsidiary of Hillhouse Venture Fund V, L.P. ("Hillhouse Venture V") and VSUM VIII is a wholly owned subsidiary of Hillhouse Healthcare Fund, L.P. ("Hillhouse Healthcare"). HIM (as defined below) acts as the sole management company of each of Hillhouse Venture V and Hillhouse Healthcare.
F3	The securities reported herein are held by VSUM VIII and ARVT Holdings Limited ("ARVT"). VSUM VIII is a wholly owned subsidiary of Hillhouse Healthcare and ARVT is a wholly owned subsidiary of Hillhouse Venture Fund VI, L.P. ("Hillhouse Venture VI"). HIM acts as the sole management company of each of Hillhouse Healthcare and Hillhouse Venture VI.
F4	The securities reported herein are held by HHLR Fund, L.P., an exempted Cayman Islands limited partnership ("HHLR Fund"). HHLR (as defined below) acts as the sole management company of HHLR Fund.
F5	This statement is filed by (i) Hillhouse Investment Management, Ltd., an exempted Cayman Islands company ("HIM") and (ii) HHLR Advisors, Ltd., an exempted Cayman Islands company ("HHLR"). The foregoing persons are hereinafter sometimes each referred to as a "Reporting Person" and collectively referred to as the "Reporting Persons." HIM and HHLR are under common control and share certain policies, personnel and resources. Accordingly, HIM and HHLR are filing this Form 4 jointly.
F6	The filing of this statement shall not be deemed an admission that each of the Reporting Persons is the beneficial owner of the securities reported herein for purposes of Section 16 of the Securities Act of 1934, as amended, or otherwise. Each of the Reporting Persons expressly disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, if any.