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Admedus completes placement to strategic cornerstone investor Star Bright Group

The latest investment takes Star Bright’s total interest in the company to 19.99% of issued shares.

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Admedus is also negotiating a long-term funding agreement with Star Bright

Admedus Limited (ASX:AHZ) has completed the placement of more than 70 million shares to Hong Kong-based significant investor Star Bright Group.

The latest investment takes Star Bright’s total interest in the company to 19.99% of issued shares for a total investment of almost $7.7 million.

READ: Admedus secures strategic cornerstone investor from Hong Kong

The placement follows Star Bright’s recent subscription for shares valued at $500,000 as part of an Admedus placement in May 2018 and another placement raising almost $4.26 million, issued on August 22, 2018.

Admedus is also negotiating with Star Bright in respect of a long-term funding agreement for Admedus Immunotherapies.

In this regard, the company has entered an MOU for a 60% share of the vaccines business for an initial investment of $18 million

Quick facts: Admedus Ltd

Price: 0.069 AUD

Market: ASX
Market Cap: $40.77 m

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