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Thursday, 10 December 2009
Yorkville to invest in Transcu life sciences firm
Singapore-listed life sciences firm Transcu Group (TRSU.SI) said on Thursday that Yorkville Advisors, a U.S. investment fund manager, planned to invest up to US$51.8 million ($72 million) in the company.
Singapore-listed life sciences firm Transcu Group (TRSU.SI) said on Thursday that Yorkville Advisors, a U.S. investment fund manager, planned to invest up to US$51.8 million ($72 million) in the company.
Transcu had entered into a $72 million Equity Line Facility (ELF) with YA Global Master, a fund managed by Yorkville Advisors and the proceeds will help Transcu to accelerate its business expansion, Transcu said in a statement.
Under the terms of the ELF, Transcu may at its discretion, raise up to a total of $72 million of equity capital in tranches, from YA Global over a period of 24 months, in exchange for the issue of new ordinary shares, at a discount to the prevailing market price at each drawdown, it said.
Transcu is a life sciences company listed on Singapore’s main board. The firm plans to use the funds for its general corporate and working capital purposes and to further develop its existing business portfolio which includes pharmaceutical, cosmetics and green technology businesses, the statement said.
Transcu was established in 1988 in Japan and headquartered in Singapore. It has offices in Singapore, Japan and the United States.
Transcu’s current focus includes transdermal drug delivery systems, specialised cosmetic products and green energy related technologies for the pharmaceutical, cosmetic and environmental industries.
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Yorkville to invest in Transcu life sciences firm
Singapore-listed life sciences firm Transcu Group (TRSU.SI) said on Thursday that Yorkville Advisors, a U.S. investment fund manager, planned to invest up to US$51.8 million ($72 million) in the company.
Transcu had entered into a $72 million Equity Line Facility (ELF) with YA Global Master, a fund managed by Yorkville Advisors and the proceeds will help Transcu to accelerate its business expansion, Transcu said in a statement.
Under the terms of the ELF, Transcu may at its discretion, raise up to a total of $72 million of equity capital in tranches, from YA Global over a period of 24 months, in exchange for the issue of new ordinary shares, at a discount to the prevailing market price at each drawdown, it said.
Transcu is a life sciences company listed on Singapore’s main board. The firm plans to use the funds for its general corporate and working capital purposes and to further develop its existing business portfolio which includes pharmaceutical, cosmetics and green technology businesses, the statement said.
Transcu was established in 1988 in Japan and headquartered in Singapore. It has offices in Singapore, Japan and the United States.
Transcu’s current focus includes transdermal drug delivery systems, specialised cosmetic products and green energy related technologies for the pharmaceutical, cosmetic and environmental industries.
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