Saturas Ltd announced that it will issue 92,502 series A preferred shares at a price of $75.6743 per share for gross proceeds of not more than $7,000,000 on May 27, 2020. The company has entered into an agreement with returning investor, Hubei Forbon Technology Co.,Ltd. (SZSE:300387). Hubei Forbon Technology Co.,Ltd. (SZSE:300387) subscribed for 13,215 series A preferred shares, The Trendlines Group Ltd. 13,215 shares, Gefen Capital for 9,911 shares. The round is raised at a post money valuation of $27,000,000. The transaction is expected to close by the end of the 2020.


On the same day, the company has received $3 million in its first tranche closing from The Trendlines Group Ltd. and other investors.