They were supposed to invest $2.61 million and $2.34 million respectively, and end up as shareholders holding 12.41% and 11.12% respectively in VCPlus, reads the company’s Dec 6 announcement.
VCPlus will be raising just gross proceeds of $600,000 from a placement instead of $6.66 million after two of the three investors pull out.
According to VCPlus, Hyper SN and QNX Partners have not remitted their respective portion of funds by the long stop date of Jan 30.
