AnPac Bio announces signing of $5.2M of definitive investment agreements

AnPac Bio-Medical Science announced that in December 2022 and January 2023, the Company signed definitive investment agreements with several third party investors. The investors agreed to purchase 29,714,279 newly issued Class A ordinary shares of the Company at a price of US$0.175 per ordinary share or $3.50 per ADS, for a total purchase price of $5.2M. The closing is expected to take place within 30 days after signing. Concurrently, for each Class A ordinary share purchased, the investors will receive two warrants with each warrant to purchase one Class A ordinary share at an exercise price of $0.21 per ordinary share. The warrants will be exercisable within 2 years from the date of issuance. The Company expects to use the proceeds for its business-to-business Asian food e-commerce and Asian food supply chain construction.