Cachet Pharmaceutical Co., Ltd. announced that it expects to receive CNY 1.5 billion in funding from China Everbright Group Limited, Investment Arm
December 14, 2018
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Cachet Pharmaceutical Co., Ltd. (SZSE:002462) announced that it has signed share subscription agreement for private placement of not more than 41,180,805 A shares for gross proceeds of not exceeding CNY 1,500,000,000 on December 14, 2018. The transaction will include participation from China Everbright Group Limited, Investment Arm. The securities issued shall not be transferred within 36 months from the closing. The transaction was approved at the 28th meeting of the fifth directorate of the company. This transaction still needs to obtain the official approval document issued by investor and obtain the approval of the company's general meeting of shareholders and the approval of the China Securities Regulatory Commission.
Cachet Pharmaceutical Co., Ltd. is a China-based company, principally engaged in the wholesale and retailing of pharmaceuticals. The Company mainly operates pharmaceutical wholesale business, which is engaged in the distribution of pharmaceuticals to the hospitals and community hospitals, and medical equipment sales business. In addition, the Company is also engaged in the pharmaceuticals retail business, which operates regular chain drug stores. It is also engaged in the pharmaceutical logistics, including sorting, storage and delivery services. The Company operates its businesses in Beijing and others.