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QuantumPharm, Inc. ( (HK:2228) ) has issued an update.
XtalPi Holdings Limited has agreed to issue HK$2.866 billion in zero-coupon convertible bonds due 2027, following a book-building exercise that set an initial conversion price of HK$13.85 per share. On full conversion, the bonds would translate into about 206.9 million new shares, equal to roughly 4.81% of the company’s current issued share capital and 4.59% of the enlarged capital base, with the conversion shares ranking pari passu with existing stock. The company plans to use the net proceeds to strengthen its R&D and one-stop solution capabilities, expand domestic and international commercialisation and marketing teams, invest in new sites to boost delivery and R&D capacity, and for general working capital, moves that aim to broaden its global footprint and operational scale. The bonds and related conversion shares will be issued under an existing general mandate without further shareholder approval, and XtalPi will seek Hong Kong Stock Exchange listing for both the bonds and the conversion shares, though completion remains subject to conditions and possible termination of the subscription agreement, prompting a cautionary note to investors.
The most recent analyst rating on (HK:2228) stock is a Hold with a HK$9.50 price target. To see the full list of analyst forecasts on QuantumPharm, Inc. stock, see the HK:2228 Stock Forecast page.
More about QuantumPharm, Inc.
XtalPi Holdings Limited is a Hong Kong–listed company incorporated in the Cayman Islands that operates in the technology and pharmaceutical solutions space, focusing on research and development and the provision of one-stop solutions for drug discovery and related commercialisation services across domestic and international markets.
Average Trading Volume: 83,499,195
Technical Sentiment Signal: Strong Buy
Current Market Cap: HK$44.95B
For detailed information about 2228 stock, go to TipRanks’ Stock Analysis page.