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QT Vascular bags $16.2m of convertible bonds funding
It has a two-year maturity period.
QT Vascular today said that it has acquired $16.2m (US$12m) of convertible bonds funding from ICH Gemini Asia Growth Fund and three other individual investors .
The 8% coupon convertible bonds will have a two-year maturity period and can be converted into ordinary shares at S$0.192 per share based on and subject to the terms of the agreement.
The conversion price of S$0.192 per share represents a 8.5% premium over QT Vascular’s closing price of S$0.177 on 30 June 2015.
The bonds can be converted at any time at the sole discretion of the investors based on and subject to the terms of the agreement.
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