Basel Medical Obtains Waiver of Lock-Up for Potential Strategic Fund Raising
Basel Medical Group (NASDAQ:BMGL) announced that Cathay Securities has waived the lock-up provision from their February 24, 2025 underwriting agreement. This waiver, granted on June 23, 2025, allows the company to conduct public offerings or private placements of new securities before the original lock-up period expires.
The company is currently evaluating capital requirements and exploring fund-raising options through securities issuance, though no definitive plans have been confirmed. The original lock-up period was set to expire six months after their IPO closing date.
Basel Medical Group (NASDAQ:BMGL) ha annunciato che Cathay Securities ha rinunciato alla clausola di lock-up prevista nell'accordo di sottoscrizione del 24 febbraio 2025. Questa deroga, concessa il 23 giugno 2025, consente alla società di effettuare offerte pubbliche o collocamenti privati di nuovi titoli prima della scadenza del periodo di lock-up originario.
La società sta attualmente valutando le esigenze di capitale e sta esplorando opzioni di raccolta fondi tramite emissione di titoli, anche se non sono stati confermati piani definitivi. Il periodo di lock-up originario sarebbe scaduto sei mesi dopo la data di chiusura dell'IPO.
Basel Medical Group (NASDAQ:BMGL) anunció que Cathay Securities ha renunciado a la cláusula de lock-up establecida en su acuerdo de suscripción del 24 de febrero de 2025. Esta exención, otorgada el 23 de junio de 2025, permite a la compañía realizar ofertas públicas o colocaciones privadas de nuevos valores antes de que expire el período de lock-up original.
La empresa está actualmente evaluando sus necesidades de capital y explorando opciones de financiamiento mediante la emisión de valores, aunque no se han confirmado planes definitivos. El período de lock-up original estaba previsto para expirar seis meses después de la fecha de cierre de su IPO.
Basel Medical Group (NASDAQ:BMGL)는 Cathay Securities가 2025년 2월 24일 체결한 인수 계약의 락업 조항을 포기했다고 발표했습니다. 2025년 6월 23일에 부여된 이 포기로 인해 회사는 원래 락업 기간이 만료되기 전에 신규 증권의 공개 모집 또는 사모 발행을 진행할 수 있게 되었습니다.
회사는 현재 자본 요건을 평가하고 있으며 증권 발행을 통한 자금 조달 방안을 모색 중이나, 아직 확정된 계획은 없습니다. 원래 락업 기간은 IPO 마감일로부터 6개월 후에 만료될 예정이었습니다.
Basel Medical Group (NASDAQ:BMGL) a annoncé que Cathay Securities a renoncé à la clause de lock-up prévue dans leur accord de souscription du 24 février 2025. Cette dérogation, accordée le 23 juin 2025, permet à la société de réaliser des offres publiques ou des placements privés de nouveaux titres avant l'expiration de la période de lock-up initiale.
La société est actuellement en train d'évaluer ses besoins en capital et d'explorer des options de levée de fonds par émission de titres, bien qu'aucun plan définitif n'ait été confirmé. La période de lock-up initiale devait expirer six mois après la date de clôture de leur introduction en bourse.
Basel Medical Group (NASDAQ:BMGL) gab bekannt, dass Cathay Securities auf die Lock-up-Klausel aus ihrem Zeichnungsvereinbarung vom 24. Februar 2025 verzichtet hat. Diese am 23. Juni 2025 gewährte Ausnahme erlaubt es dem Unternehmen, öffentliche Angebote oder Privatplatzierungen neuer Wertpapiere vor Ablauf der ursprünglichen Lock-up-Periode durchzuführen.
Das Unternehmen prüft derzeit den Kapitalbedarf und erkundet Finanzierungsmöglichkeiten durch Wertpapieremissionen, obwohl noch keine endgültigen Pläne bestätigt wurden. Die ursprüngliche Lock-up-Periode sollte sechs Monate nach dem IPO-Abschluss enden.
- None.
- Early lock-up waiver suggests potential urgent need for capital
- Potential dilution for existing shareholders if new securities are issued
Singapore, June 26, 2025 (GLOBE NEWSWIRE) -- Basel Medical Group Ltd (Nasdaq: BMGL) (the “Company”), today announced that Cathay Securities, Inc., as the representative of the several underwriters of the Company’s initial public offering, has granted its consent on June 23, 2025 to the lock-up provision in the underwriting agreement dated February 24, 2025, permitting (i) a public offering or private placement of new securities of the Company, and (ii) the filing with the U.S. Securities and Exchange Commission of a registration statement under the Securities Act of 1933 in relation to such offering or placement, prior to the expiration of the lock-up period which was due to expire six months from the closing of the initial public offering.
The Company is evaluating its capital requirements and reviewing its options with regards to fund-raising through the issuance of securities. As at the date hereof, there is no certainty that any such fund-raising or securities issuance will be consummated.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities, and neither shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Basel Medical Group Ltd
Basel Medical is a Singapore-based provider of orthopedic and trauma services, general practice, sports medicine and surgery, orthopedic procedures, as well as neurosurgical treatments. Our operations are based in Singapore, with our clinics being at 6 Napier Road, Unit #02-10/11 and Unit #03-07, Gleneagles Medical Centre. Over the last 20 years, our group has forged strong and lasting relationships with a large base of corporations, in particular those in the construction, marine and oil & gas industries, which underpin our robust business model. As an orthopedic service provider in Singapore with a track record of over 20 years, we are well-positioned to ride the wave of growth opportunities in the private healthcare industry in Singapore and across Southeast Asia driven by ageing populations, rising income levels, increasing private insurance coverage, government effort and expenditure on healthcare, growing sports participation rate and Singapore’s position as a premium destination for healthcare services in Asia. Our management and medical practitioner team comprises a roster of orthopedic and neurosurgery specialists, corporate finance and healthcare partnership specialists. The Company completed the acquisition of Bethesda Medical, a leading Singapore-based healthcare provider specializing in diagnostic imaging, sports medicine, health screening services, general outpatient care, mental and women’s health services, in April 2025. Basel Medical Group Ltd serves as the holding company of our group and we conduct our operations through our operating subsidiaries based in Singapore. For more information, please visit the Company’s website: www.baselmedical.com.
Forward-Looking Statements
Certain statements in this announcement are forward-looking statements, which involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that may affect its financial condition, results of operations, business strategy and financial needs. Investors can find many (but not all) of these statements by the use of words such as “aim”, “anticipate”, “believe”, “estimate”, “expect”, “going forward”, “intend”, “may”, “plan”, “potential”, “predict”, “propose”, “seek”, “should”, “will”, “would” or other similar expressions in this press release. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s filings with the SEC.
Media Contact:
Basel Medical Group Ltd
Phone: +65 6291 9188
Email: contact@baselmedical.com
Website: www.baselmedical.com
FAQ
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