HKG:2500

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Venus Medtech Plans 500 Million Yuan Share, Convertible Bond Subscription

Venus Medtech (HKG:2500) entered into a subscription agreement with Hangzhou Yingzhiqin No. 3 Equity Investment Partnership for up to 500 million yuan of new shares and convertible bonds, according to a Thursday Hong Kong bourse filing.The deal comprises 184.5 million new shares for about 171.9 million yuan and convertible bonds of up to HK$379.7 million.The subscription price is HK$1.078 per share, while the initial conversion price is HK$1.1858.The company said the fundraising will help address liquidity needs, meet near-term financial obligations, and support operations and product development.The subscription remains subject to shareholder and other regulatory approvals.

HKG:2500

Asia71d ago

Venus Medtech Signs Term Sheet for Up to 500 Million Yuan Investment; Shares Jump 6%

Venus Medtech (Hangzhou) (HKG:2500) signed a non-binding term sheet with Hangzhou Hi-Tech Financial Investment Holdings Group and Hangzhou Yingzhiqin for a potential investment of up to 500 million yuan, according to a Thursday Hong Kong bourse filing.The proposed investment will be made through subscriptions for new shares and convertible bonds, with the final mix to be determined under definitive transaction documents expected to be signed by Aug. 31.Venus Medtech said the proposed investment would support product development and global commercial expansion.Shares of the firm were up nearly 6% in Thursday's late-morning trade.

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