SINGAPORE (Dec 18): Former Cordlife Group CEO Jeremy Yee is making a comeback via Clearbridge Health, a healthcare company seeking a listing on the Singapore Exchange’s Catalist board. Clearbridge aims to raise $24.6 million by issuing 88 million shares at 28 cents each. The issue shares represent 18.3% of the enlarged share capital of 481 million shares, which puts the company’s post-invitation market cap at $134.7 million.
Post-IPO, Clearbridge’s single-largest shareholders will be Johnson Chen (with 15.7%) and an entity known as QED Innovate (with almost 24%). QED Innovate’s shareholders include Halcyon Investment Capital (27.3%) and Tri3 Capital (12.6%). Yee owns 7.2% of Halcyon. He and his wife, Leong Wee Lee, jointly own 100% of Tri3. Chen is non-executive and non-independent chairman of Clearbridge; Yee is its executive director and CEO.
Clearbridge had started out in 2010 running an accelerator programme to incubate and accelerate healthcare, info-security and technology start-ups. The accelerator managed a $40 million fund to invest in life-sciences companies under the SPRING Singapore Biomedical Sciences Accelerator (BSA) programme.
