Asia
Cloudbreak Pharma Secures $15 Million from ARC Group
Cloudbreak Pharma (HKG:2592) agreed to sell $15 million worth of shares to ARC Group, an investment bank and management consultancy firm, according to a Thursday filing with the Hong Kong bourse.Cloudbreak will sell up to 167.8 million shares, representing 20% of the company's issued share capital.Proceeds from the share sale will be used to advance the company's drug pipeline and to repay loans. Funds will also be used for working capital, the firm said.
HKG:2592
