Date: 2016-10-03
Type of information: Private placement
Company: Emmaus Life Sciences (USA)
Investors: KPM Tech (Republic of Korea) Hanil Vacuum (Republic of Korea)
Amount: $20 million
Funding type: private placement
Planned used: Emmaus Life Sciences will use the net proceeds from the private placement, amounting to approximately $6 million, for working capital and general corporate purposes.
Others:
- • On October 3, 2016, Emmaus Life Sciences announced it has raised $20 million in gross proceeds in a private placement from KPM Tech Co and Hanil Vacuum, both Korean-based public companies with shares listed on KOSDAQ, a trading board of the Korea Exchange in South Korea.
- KPM and Hanil acquired $17 million and $3 million, respectively, of Emmaus’ shares of common stock at a price of $4.50 per share. As part of the transaction, Emmaus will invest $13 million in KPM shares and $1 million in Hanil shares.
Therapeutic area: Rare diseases - Gastrointestinal diseases
Is general: Yes
