You are here

Kitchen Culture's US$20m notes issue bid falls through

Thursday, July 20, 2017 - 19:05

CATALIST-LISTED high-end kitchen systems seller Kitchen Culture Holdings said on Thursday its attempt to raise up to US$20 million through convertible senior notes has fallen through.

The potential investor was Crede CG III, a unit of US investment firm Crede Capital Group.

But the cut-off date to the deal expired on June 3 and the company could not fulfil the conditions precedent to the deal, nor agree with the investor on an extension to the cut-off date.

"Accordingly, the subscription agreement had ceased on June 3, 2017, and the company has decided not to proceed with the proposed notes issue," said Kitchen Culture executive chairman Lim Wee Li.

The counter last traded at S$0.19.

sentifi.com

Market voices on:

Nespresso
Pair your daily business read with the perfect cup of espresso.

Subscribe to The Business Times today to receive your very own Nespresso Inissia coffee machine worth $188.

Find out more at btsub.sg/btdeal

Powered by GET.comGetCom