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.