Cordlife Group (SG:P8A) has released an update.
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Cordlife Group Limited has announced a change in the allocation of funds from its 2013 private placement, redirecting approximately S$0.8 million originally intended for placement-related expenses to general working capital. This decision follows the utilization of around S$27.2 million of the S$33.5 million raised and coincides with regulatory challenges, including suspensions issued by the Ministry of Health on the company’s services. Additionally, Cordlife is offering refunds and waiving fees for clients affected by equipment under investigation.
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