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rotaryeng.com.sg

Stage

Acquired | Acquired

Valuation

$0000 

About Rotary Engineering

Rotary Engineering is in the business of engineering design, procurement and construction services for plants and associated facilities.

Rotary Engineering Headquarter Location

No. 17 Tuas Avenue 20

638828,

Singapore

(65) 6866 0800

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Latest Rotary Engineering News

SG Dealbook: Vensica Medical raises $2m; Loyz Energy deal; Rotary Engineering privatisation

Oct 2, 2017

SG Dealbook: Vensica Medical raises $2m; Loyz Energy deal; Rotary Engineering privatisation Supertrees at Gardens by the Bay in Singapore. October 2, 2017 Vensica Medical has raised $2 million in funding, Loyz Energy has issued shares to Arctos Investments and Rotary Engineering could delist from the SGX. Vensica Medical raises $2m from Cogentix Medical Vensica Medical, a portfolio company of The Trendlines Group, has secured a $2 million investment from NASDAQ-listed Cogentix Medical. Additionally, Cogentix has signed for options to acquire the entire issued share capital of Vensica for an additional $8 million. This acquisitive transaction will only occur if business and clinical milestones are achieved. The latest deal will see Trendlines’ effective interest in the firm reduce to 26.87 per cent from 33.58 per cent on a fully diluted basis. Should the options to acquire be exercised, Trendlines is forecast to receive net proceeds of approximately $2.6 million and a net gain after tax of approximately $1.3 million. Vensica is developing Vensicare, an ultrasound-based, needle-free drug delivery system, which is used for the delivery of botulinum toxin to treat overactive bladder (OAB). In addition, it possesses the intellectual property (IP) for the delivery of oncology agents to the bladder. Human clinical trials for OAB are expected to commence in Q4 2018. In an official statement, Cogentix president and CEO Darin Hammers said, “We are very excited about the potential the Vensicare product may provide for patients in the US suffering from overactive bladder and its symptoms. Our physician customers often use Botox for the treatment of overactive bladder, and we believe Vensica’s approach and product pathway currently show promise for revolutionising the manner in which Botox is administered for OAB.” Loyz Energy issues shares to Arctos Investments Loyz Energy is issuing 76.6 million new shares at 1.305 cents each to Arctos Investments, a multi-asset investment firm, following the establishment of their joint venture (JV) firm, FIT Global, which is in the business of fund management, investment and trading. The issue price of the shares represents a discount of 10 per cent to Loyz’s volume-weighted average price (VWAP) of 1.45 cents on Friday and will see Arctos own 4.78 per cent of Loyz’s enlarged issued and paid-up share capital. The move comes as Loyz’s diversifies into fund management, investment and trading and streamlines its oil and gas assets. It is also considering rebranding to CWX Global. Rotary Engineering receives privatisation offer Rotary Engineering, a company in the business of engineering design, procurement and construction services for plants and associated facilities, has received an offer from its executive chairman and family group for 46 cents per share that will see the company be privatised and delisted from the SGX. The offer values the company at S$261 million. The offerer is Orochem, which is 64.7 per cent-owned by Chia SPV, whose shareholders are executive chairman Roger Chia Kim Piow, his wife Jenny Wong and brother Chia Kim Chua, who is also an executive in the company. Orochem has obtained irrevocable undertakings from shareholders holding a collective 60.63 per cent stake to agree to the offer. According to Orochem, the takeover offer is an opportunity for shareholders to realise their investments amidst low trading liquidity of its shares, with the exit offer price representing a premium of 25 per cent over the volume weighted average price (VWAP) of 36.8 cents for the three-month period up to Friday. There are no plans to revise the offer price. Also Read:

  • What is Rotary Engineering's latest funding round?

    Rotary Engineering's latest funding round is Acquired.

  • Who are the investors of Rotary Engineering?

    Investors of Rotary Engineering include Orochem Technologies.

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