With our Partner doing a IPO and we own 15% of them I have heard that PMCB will be part of the deal.$$$$$$$$$$$$$$$$$$$$$$. I think now people will understand why KW did what he did the day after the AN news hit the wires. Its all good for PMCB and if they package us in the IPO that would bring huge buyers to PMCB.
Austrianova Secures $100 Million USD Investment Commitment from GEM as Company Seeks to Go Public
Austrianova
April 22, 2021, 07:09 GMT
Encapsulation of cells and bacteria using Austrianova's Cell-in-a-Box and Bac-in-a-Box technologies
Cell-in-a-Box and Bac-in-a-Box technologies explained
Vials of Austrianova's Cell-in-a-Box and of Bac-in-a-Box
Cell-in-a-Box and Bac-in-a-Box Capsules
Singapore based Company envisages going public via SPAC merger or traditional IPO
We believe that this is the largest share subscription facility to date for an Asian-based biotech company”— Brian Salmons, CEOSINGAPORE, April 22, 2021 /EINPresswire.com/ -- Austrianova (the SG Austria group, Austrianova Singapore and Austrianova Thailand) is pleased to announce that it has signed an Agreement with GEM Global Yield LLC SCS ("GEM"), the Luxembourg based private alternative investment group, to provide Austrianova with a share subscription facility of up to $100 million USD for a 36-month term following a public listing. The share subscription facility, will allow Austrianova, subject to the further terms, to draw down funds by issuing shares of common stock to GEM. Austrianova will control the timing and the maximum size of such drawdowns and has no minimum drawdown obligation.
Austrianova has issued warrants to GEM, exercisable upon public listing, to purchase up to 4.2% of the common stock of the company.
This announcement occurs as the Company embarks on its next stage of growth in production capacity in order to satisfy the strong demand witnessed across the wide variety of applications that its unique protective cell encapsulation technology addresses. Austrianova was advised on strategic and financial matters by Square Associates (Singapore) and on legal matters by Luther LLP.
"This Agreement with GEM helps secure funding for continued growth and development of Austrianova as we continue to expand the number of partners using our Cell-in-a-Box® and Bac-in-a-Box® technologies" stated Walter H Gunzburg, Chairman of Austrianova. “With certainty of capital upon listing on a national public stock exchange, Austrianova is now well-positioned as the company enters its next stage of development. We believe that this is the largest share subscription facility for an Asian-based biotech company.” added Brian Salmons, CEO of Austrianova.
