The Trendlines Group is seeking to raise $20.27 million by issuing 168.9 million new shares at 12 cents each to a group of four investors including Librae Holdings, which is now its single largest shareholder.
The other investors are FEA Innovations, Palm Tree IV and Avztim on Jan 19.
The new shares represent 21.35% of the existing share capital in the company and 17.59% of the enlarged share capital upon the completion of the proposed subscription.
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