Healthway Medical Corporation Limited (Catalist:5NG) announced that it has entered into a subscription agreement with Gateway Partners Limited for the private placement of convertible notes for gross proceeds of SGD 10,000,000 and non-convertible notes for gross proceeds of SGD 60,000,000 on January 16, 2017. The notes carry a coupon of 12% per annum up to three months from the date of issue, and a coupon of 16.5% per annum thereafter until the maturity date which is two years from the date of issue. The notes will be exchangeable into fully convertible notes, which will be convertible into common shares at a conversion price of SGD 0.03384, with a maturity period of five years. The company will receive net proceeds of SGD 68,300,000. The investor will invest through GW Active Limited.