Trendlines Group Revises Terms for Share Subscription Deal After Subscriber Withdrawals

MT Newswires10-10

Trendlines (SGX:42T) disclosed changes to its proposed subscription of up to 76.6 million new ordinary shares at a subscription price of SG$0.06 each, according to a Wednesday filing on the Singapore Exchange.

Two subscribers, Rich Silverstein and Meyer Jeger, have opted not to proceed with their payments, while RRAOS Enterprises has not communicated a payment timeline. FEA Innovations has requested additional time for payment.

The company plans to complete the subscription in two tranches.

The first tranche will involve all other subscribers except the three mentioned. The second tranche will only include FEA Innovations and, if applicable, RRAOS Enterprises, contingent on their respective payments.

The first tranche will issue 67.2 million shares, while the aggregate number of shares to be subscribed for in the second tranche will depend on payments from FEA Innovations and RRAOS Enterprises.

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