MicroPort Scientific Corporation (00853.HK) Completes Placement of 65.958 Million New Shares

Original Title: MicroPort (00853.HK) Completes Placement of 65.958 Million New Shares Source: Gelonghui

Gelonghui, July 2 | MicroPort (00853.HK) announced that the Board of Directors is pleased to announce that all conditions precedent under the placement agreement have been fulfilled, and the placement was completed on July 2, 2020.

A total of 65.958 million new shares (representing approximately 3.66% of the Company’s issued share capital enlarged by the placement shares as of the announcement date) have been successfully placed by the placing agent to not fewer than six placees at a price of HK$23.50 per share.

The net proceeds from the placement, after deducting all related costs, commissions, and expenses, amounted to approximately HK$1.541 billion. The Company intends to use these net proceeds to repay bank loans of the Group, fund future potential business development and investments (should such opportunities arise), and serve as general working capital for the Group.