QT Vascular secures initial $10 mil capital commitment from US investor

SINGAPORE (March 22): Catalist-listed QT Vascular says a New York-based private alternative investment group, GEM Global Yield Fund, has agreed to provide it with up to $10 million in capital commitment over the next 30 months.

The medical technology company has also agreed to issue 35 million warrants to GEM Global, each carrying the right to subscribe for one new ordinary share its company. This will be exercisable for a period of five years from the issue date at a fixed price of 10 cents each.

The warrants are expected to be issued within 45 days from the date of the agreement.

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