Asian American Medical Group Limited (AAMG) is a Singapore-based and Australian Securities Exchange-listed company that operates a leading liver transplant centre in Singapore.
It recently announced subscription agreements to raise capital through the placement of 70,175,439 new shares and the issue of 1,000,000 convertible notes, raising a total of A$3.0 million before transaction-related expenses.
The company's net cashflow used in operations for the quarter was (S$4,432).
A loan facility from the Development Bank of Singapore Ltd to the Company’s wholly owned subsidiary is currently being supported by a personal guarantee.
AAMG is able to continue its operations and to meet its business objectives, with sufficient working capital to reinvigorate its Singapore medical business operation.