CurveBeam AI (ASX:CVB), a developer and manufacturer of point-of-care specialised CT imaging equipment and AI-enabled clinical assessment solutions, has announced it has received formal approval under China's outbound direct investment framework for a strategic equity investment from Shandong WeiYing Intelligent Medical Technology, a subsidiary of Shandong Weigao Orthopaedic Materials.
The approval covers the first tranche of $4 million from a planned $10 million strategic investment, with funds expected to be received in January.
The investment will see CurveBeam AI issue shares at $0.405 each, representing a significant premium to the company's last traded price of approximately $0.075 per share.
A further $6 million may be invested subject to the achievement of defined commercial and regulatory milestones.