Cordlife and Artivision unveil placement plans
The former expects to raise $32.1m from private placement and the latter $4.27m
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CORDLIFE Group and Artivision Technologies yesterday announced that they are raising funds via share placements.
Cordlife has proposed a private placement of 26.8 million shares that is expected to raise gross proceeds of $33.5 million. After deducting fees and expenses, the group expects to raise net proceeds of $32.1 million.
Cordlife, which runs a cord blood bank, intends to offer 17.8 million shares at $1.25 each via placement agent United Overseas Bank, while the remaining 9.038 million shares will be taken up by Caerus Capital and four other investors via subscription agreements.
