Jinbo Bio Completes 1 Billion Yuan Private Placement to Yangshengtang as Funds Verified

Jinbo Biochemical's roughly 1 billion yuan private placement of shares to Yangshengtang completed capital verification and payment on October 16. Yangshengtang also committed to buying at least another 1 billion yuan of shares on the secondary market within 18 months after the placement. The issue price was 277.22 yuan per share for 3.6072 million shares; the company earlier cut the fundraising cap from 2 billion yuan to 1 billion yuan, dropping a planned 850 million yuan for working capital, to focus proceeds on its humanized collagen FAST database R&D platform.