ANG LIFESCIENCES INDIA LIMITED ANG Lifesciences India Limited announced a private placement of 2,200,000 convertible warrants at a price of INR 110 per convertible warrant for gross proceeds of INR 242,000,000 on March 6, 2023. The transaction will include participation from new investor ANG Capital Investments Private Limited for 14.42% stake upon closing. The company will issue the securities by way of preferential allotment.
The company will receive minimum 25% of the price of the warrant payable upfront at the time of closing and balance of 75% will be paid by the investor at the time of exercising the warrants. The warrants are exercisable within eighteen months from the date of allotment of warrants. Each warrant is convertible in to one common share of the company.
The transaction has been approved by the board of directors of the company. The transaction is subject to approval at the Extra Ordinary General Meeting.
