Jiangsu Nanfang Medical Co., Ltd. announced that it has entered into an private placement agreement to issue not more than 87,742,200 A shares pre-plan at an issue price of CNY 3.41 per share for gross proceeds of not more than CNY 299,200,902 on June 8, 2023. The transaction will include participation from new investor, Suzhou Fengruida Optoelectronics Technology Co., Ltd. The transaction has been approved at the 9th meeting of the company’s 4th directorate and the 7th meeting of the 4th supervisory board. The transaction is still subject to approval by the company’s shareholders, the Shanghai Stock Exchange, and the China Securities Regulatory Commission.

The shares cannot be transferred within 18 months from the issuance closing date.