About Hilda

Hilda Li focuses her practice on capital markets and corporate transactions, including initial public offerings, mergers and acquisitions and general corporate representation.

Prior to joining Cooley, Hilda has worked at the Hong Kong and New York offices of two other international law firms. 

Representative Matters:

US Capital Markets Transactions

  • Bitdeer Technologies in its up to US$150 million committed equity financing in the United States
  • Gracell Biotechnologies in its up to US$150 million private placement (PIPE) financing in the United States joined by syndicate of premier healthcare investors
  • Bitdeer Technologies Group in its US$1.18 billion merger with Blue Safari (SPAC) and deSPAC listing on Nasdaq
  • Summit Healthcare Acquisition Corporation in its US$849 million merger with YS Biopharma and the deSPAC listing of YS Biopharma on Nasdaq
  • Gracell Biotechnologies, a global clinical-stage biopharmaceutical company dedicated to discovering and developing breakthrough cell therapies, in its $50 million at-the-market program 
  • Futu Holdings, a leading online brokerage firm in its $1.4 billion follow-on offering
  • Gracell Biotechnologies in the $209 million IPO and listing on Nasdaq

Hong Kong Capital Markets Transactions

  • VISEN Pharmaceuticals, a late-stage, near-commercialized biopharmaceutical company, focusing on providing potentially optimal or first-class innovative therapeutic solutions in specific endocrine fields with large unmet medical needs and favorable medical and health policies in Greater China, in its proposed IPO and listing on HKEX (filed A1 application, on-going)
  • CICC and BofA as joint sponsors in the proposed IPO and listing of Genecast on HKEX (filed A1 application, on-going)
  • A commercial-stage biopharmaceutical company in its proposed IPO and listing on the HKEX (on-going)
  • A special purpose acquisition company (SPAC) in its proposed IPO and listing on the HKEX under Chapter 18B (on-going)
  • Haitong in the proposed IPO and listing of A SPAC (HK) Acquisition Corp. (SPAC) on the HKEX under Chapter 18B (on-going)
  • Huatai, UBS and CICC in the US$224 million IPO and listing of Kintor Pharmaceutical Limited, a Chinese clinical-stage novel drug developer engaged in the research and development of drugs for prostate cancer, breast cancer and other androgen receptor (AR)-related diseases, on the Hong Kong Stock Exchange
  • Haitong and DBS in the US$80 million IPO and listing of Beijing Enterprises Urban Resources Group Limited, a Chinese integrated waste management solution provider, on the Hong Kong Stock Exchange (January 2020)
  • Morgan Stanley, CMBI, BOCI and Citigroup in the US$151 million dual primary listing and global offering of shares of Yancoal Australia Ltd on the Hong Kong Stock Exchange. (December 2018) Yancoal Australia is the first dual-primary listed company on the Australian Securities Exchange and on the Hong Kong Stock Exchange. This deal was awarded Equity Securities Deal of the Year 2019 by China Law & Practice Awards
  • Placing agents, including Goldman Sachs, Credit Suisse, Citigroup, CICC, Macquaire, CLSA, in a number of secondary placing and/or top-up placing of shares in Hong Kong-listed companies

M&A and Private Equity

  • Gracell Biotechnologies in its acquisition by AstraZeneca for a transaction value of up to $1.2 billion
  • PSI Group, a long-established global logistics service provider specialized in cross-border air freight services, on its definitive agreement to merge with AIB Acquisition Corporation (SPAC)
  • Vietnam Sunergy Cell Company Limited (TOYO Solar), a Vietnam solar solution company originating from the Bloomberg Tier 1 listed solar module producer, Vietnam Sunergy Joint Stock Company (VSUN), in its proposed business combination with Blue World Acquisition Corporation (SPAC)
  • APRINOIA Therapeutics in its proposed business combination with Ross Acquisition Corp II (SPAC). APRINOIA Therapeutics is a global clinical-stage biotechnology company dedicated to the research and development of novel imaging-based diagnostic tools that improve the detection of neurological disease onset, progression and regression, as well as novel therapeutics that can improve the treatment of human neurological diseases
  • Financial advisors in Grab’s $39.6 billion merger with Altimeter Capital’s SPAC. Grab is Southeast Asia’s most valuable startup and leading superapp provider and this transaction marks the largest SPAC merger in history and the biggest US equity offering to date by a Southeast Asia- based company
  • BVCF Management, as a Series B investor, in the US$325 million upsized series B financing in BioNTech SE, a Germany-based clinical-stage biotechnology company (one of the largest single private funding rounds for a biotechnology company in Europe) (July 2019)
  • Endo International plc (NASDAQ: ENDP) in its proposed acquisition of Somerset Therapeutics, LLC, a New Jersey based specialty pharmaceutical company, and the business of its Indian based affiliate Wintac Limited (April 2018)


  • Gracell Biotechnologies Inc.
  • Summit Healthcare Acquisition Corp (SPAC)
  • Bitdeer Technologies Group


New York University School of Law
JD, 2017

University of Michigan, Ann Arbor
MA, 2014, Economics

Tsinghua University School of Economics and Management
BA, 2012, Economics and Finance