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Trendlines in private placement to raise $14 mil

PC Lee Published on Tue, Oct 10, 2017 / 8:47 PM GMT+8

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SINGAPORE (Oct 10): Trendlines Group, the investor, incubator and developer of early-stage medical and agricultural startup in Israel is raising net proceeds of $13.34 million by placing out 100 million new shares at 14.03 cents each.

In its filing, Trendlines says the placement price represents a discount of 9.95% to the volume weighted average price of 15.58 cents for each share on Tuesday. The 100 million new shares also represent a 16.43% stake in the enlarged share capital of Trendlines.

Seventy percent of the net proceeds will be used for direct and indirect investments into new, prospective or existing portfolio companies while the remaining 30% will go towards general working capital.