Cordlife Group to raise $32.1 million through share placement
CORDLIFE Group, a provider of umbilical cord blood and tissue banking services, aims to raise net proceeds of $32.1 million through the placement of up to 26.8 million shares.
Of these, 17.8 million shares will be set aside for private placement and the remaining 9.038 million shares in a subscription tranche for investors.
These shares will be issued at $1.25 each, a 4.8 per cent discount from the volume weighted average price of $1.31 on Sept 30.
On Wednesday, Cordlife entered into a placement agreement with United Overseas Bank for 17.8 million shares.