Showing posts with label Convertible Notes. Show all posts
Showing posts with label Convertible Notes. Show all posts
Tuesday, October 29, 2019
Biotechnology company closed private financing from BVI-registered Juvenescence Ltd.
LyGenesis, Inc., a biotechnology company focused on organ regeneration, announced the closing of US$4 million in private financing of convertible notes from BVI-registered holding company Juvenescence, Ltd. and Longevity Vision Fund. This convertible debt financing will allow LyGenesis to start transition of liver regeneration program into clinical development stage.
Greg Bailey, MD, Co-Founder and CEO of Juvenescence and a member of LyGenesis’s Board of Directors, said in his comments: “We are thrilled to continue our financial support of LyGenesis as they transition into clinical development.” Sergey Young, founder of Longevity Vision Fund, said “The progress of LyGenesis’s technology is emblematic of the rapid advances we are witnessing as biotechnology transitions from bench research, to preclinical models, and now into the clinic.”
Thursday, July 12, 2018
SPI Energy entered into amendment agreement with BVI-incorporated company
SPI Energy Co., Ltd., the global provider of renewable energy solutions, entered into an amendment agreement with respect to the company’s convertible bond financing from December 2014, when the company had entered into a definitive agreement with Union Sky Holdings Group Limited and issued a convertible promissory note of US$20mln to a special purpose vehicle of Union Sky.
The maturity date for this note was June 28, 2016, and in February 2017, SPI entered into an amendment agreement with the purpose to extend the maturity dates of the note to April 2017, January 2018 and January 2019. However, there has been no repayment made pursuant to this amendment, and on June 29, 2018 the company entered into another amendment agreement with the SPV and Magical Glaze Limited, registered in the British Virgin Islands. Pursuant to this agreement, all the rights and obligations under the agreement and the first amendment have been transferred to the BVI company, with the extension of the last maturity date to December 2020.
The maturity date for this note was June 28, 2016, and in February 2017, SPI entered into an amendment agreement with the purpose to extend the maturity dates of the note to April 2017, January 2018 and January 2019. However, there has been no repayment made pursuant to this amendment, and on June 29, 2018 the company entered into another amendment agreement with the SPV and Magical Glaze Limited, registered in the British Virgin Islands. Pursuant to this agreement, all the rights and obligations under the agreement and the first amendment have been transferred to the BVI company, with the extension of the last maturity date to December 2020.
Wednesday, January 28, 2009
China Technology Announces Proposed Offering of US$20 Million Convertible Notes of Its Subsidiary
China Technology announces proposed offering of US$20 mln of its BVI subsidiary.
BVI-registered China Technology Development Group Corporation (CTDC), providing solar energy products and solutions in the Chinese market, announced that its wholly-owned subsidiary China Green Holdings Ltd. (BVI) entered into a memorandum of understanding with CMTF Asset Management Limited – a joint venture held by China Merchants Securities Investment Limited and Taifook Fund Managers Limited. By the terms of the document, CGHL intends to offer approximately an aggregate principal amount of US$20 mln convertible notes due 2013, in a private offering to CMTF Asset Management Limited and its affiliated sophisticated investors, with interest rate equal to HK Prime Rate per annum.
In certain circumstances, the notes will be convertible into the ordinary shares of CGHL, representing 15% of its share capital and voting right, or the common shares of CTDC with a conversion price at US$3.01 per share. CGHL expects to use net proceeds from the offering of the notes for expansion of its manufacturing operations, the solar power plant project, and as working capital.
BVI-registered China Technology Development Group Corporation (CTDC), providing solar energy products and solutions in the Chinese market, announced that its wholly-owned subsidiary China Green Holdings Ltd. (BVI) entered into a memorandum of understanding with CMTF Asset Management Limited – a joint venture held by China Merchants Securities Investment Limited and Taifook Fund Managers Limited. By the terms of the document, CGHL intends to offer approximately an aggregate principal amount of US$20 mln convertible notes due 2013, in a private offering to CMTF Asset Management Limited and its affiliated sophisticated investors, with interest rate equal to HK Prime Rate per annum.
In certain circumstances, the notes will be convertible into the ordinary shares of CGHL, representing 15% of its share capital and voting right, or the common shares of CTDC with a conversion price at US$3.01 per share. CGHL expects to use net proceeds from the offering of the notes for expansion of its manufacturing operations, the solar power plant project, and as working capital.
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