QT Vascular raises $0.6 mil from placement of new shares to GEM Global

SINGAPORE (Jan 15): QT Vascular says it has raised $0.62 million from the capital commitment agreement entered into Gem Global.

Under the agreement, QT Vascular, the manufacturer of coronary products, sold a total of 55.5 million new ordinary shares in the company at 1.125 cents each to GEM Global Yield Fund LLC SCS and GEM Investments America LLC, an associated company of GEM Global.

The issue price was based on a 10% discount to the average daily VWAP of 1.25 cents each during the evaluation period which comprised mainly the trading weeks from the last week of Nov 2017 to the first week of Jan 2018.

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