Healthway Medical receives S$8.6m from Gateway
296m shares issued to Gateway at S$0.03384 each, Gateway-nominated Anand Kumar joins Healthway board
Singapore
HEALTHWAY Medical Corporation (HMC) has finally received the net proceeds of the first tranche of a S$70 million convertible notes deal with Gateway Partners to solve its immediate cash needs, such as paying doctors' and nurses' salaries.
The private clinic operator said it has received S$8.6 million after deducting an upfront fee of S$1.4 million, following receipt of listing and quotation notice from Singapore Exchange (SGX) on Friday, based on filings on the exchange.
In return, HMC has issued about 296 million shares, based on the principal amount of S$10 million, to Gateway at S$0.03384 each, which will dilute shareholding…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
WhirlPool is cutting 1,000 jobs as US appliance demand remains stagnant
Anglo American says it received unsolicited buyout proposal from BHP
TSMC says ‘A16’ chipmaking tech to arrive in 2026, setting up showdown with Intel
Meta profits soar but costs of AI cause worry
IBM falls on weak consulting sales, overshadowing HashiCorp deal
Oil settles lower as US business activity cools, concerns over Middle East ease