September 10, 2015 04:15 PM Eastern Daylight Time
NEW YORK--(BUSINESS WIRE)--Nano Mobile Healthcare (OTCQB: VNTH), (“Nano Mobile” or the “Company”) has announced its board of directors has agreed to exchange common shares into preferred shares with Nanobeak LLC.
The Company entered into an exchange agreement (the “Exchange Agreement”) with its majority shareholder, Nanobeak, LLC (“Nanobeak”), pursuant to which Nanobeak exchanged 117,366,840 shares of the Company’s common stock, par value $0.001 (the “Common Stock”), in exchange for 23,473,368 shares of the Company’s Series A Convertible Preferred Stock, par value $0.001 (the “Series A Convertible Preferred”).
The 117,366,840 shares of the Company’s common stock have been returned to Treasury, which has materially reduced the total shares outstanding of Nano Mobile Healthcare.
The new preferred shares represent a new class of stock of which Nanobeak is the sole shareholder. Nanobeak will retain its voting rights as if it were a common shareholder. Given that there is no market for the preferred shares, Nanobeak has demonstrated its intentions as a long-term shareholder of the Company.
For more information, please view the August 25, 2015 8K filed with the SEC on www.sec.gov.
Nanobeak Engages China Merchants Bank New York for $20 Million Private Placement
Published on August 19, 2015 at 3:04 AM
Vantage mHealthcare, Inc. (“Vantage Health” or the “Company”) today announced that Nanobeak LLC, its parent company, has engaged China Merchants Bank New York for a private placement of $20 million in equity for the Company exclusively for China.
Headquartered in China, China Merchants Bank Co., Ltd. is a leading commercial bank for corporate/investment banking and personal banking. With total assets of US $764 billion and a ROE of 19% at yearend 2014, China Merchants Bank was awarded the “Best Bank in China” by the Global Finance of the United States in their selection of the “Best Banks in Emerging Markets”. China Merchants Bank is presently the 6th largest bank in China.
Upon closing, this $20 million equity round will be used to fund expanded laboratory facilities in Mountain View, California, recruit additional scientific staff, fund clinical trials and subsequent regulatory approval. The prospective equity partner from China will also help the Company to develop strategic partnerships in China, the largest healthcare market in the world, for distribution and sales of the Nanobeak technology once development is concluded and regulatory approvals have been met.