Aesthetic medical international holdings group limited announces usd$15.1 million private placement with lafang china co., ltd

Shenzhen, china, may 17, 2021 (globe newswire) -- aesthetic medical international holdings group limited (the “company” or nasdaq: aih), a leading provider of aesthetic medical services in china, today announced that it has entered into a definitive share subscription agreement with lafang china co., ltd (“lafang”) to raise us$15.1 million through a private placement sale of 5,329,410 ordinary shares of the company to lafang at a sale price of us$8.50 every three ordinary shares (equivalent to us$8.50 per american depositary share of the company). the private placement is subject to customary closing conditions and is expected to close within four months from the execution of the agreement. the company intends to utilize the proceeds from this private placement to fund its business development and working capital.
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