AnPac Bio, a company with operations in the United States and China focused on early cancer screening and detection, announced that on March 2023, it has entered into definitive investment agreements with certain accredited investors in a private placement transaction. These investors agreed to purchase an aggregate of 16,666,665 newly issued Class A ordinary shares of the Company, at a price of US$0.30 per ordinary share, for an aggregate purchase price of US$5 million. In addition to this, AnPac Bio plans to enter into the operation of a business-to-business e-commerce food platform focused on the sale of Asian sourced food products. The closing of the sale of the securities is expected to occur late March, subject to satisfaction of customary closing conditions.
The proceeds of this venture will enable the Company to expand its business-to-business Asian food e-commerce business in the United States and provide the necessary working capital to facilitate its growth. With this investment, the Company will be able to provide a wider variety of Asian food products to customers in the United States, while also creating new jobs and opportunities in the industry.
The Company’s Class A ordinary shares were recently sold in a private placement and, due to the fact that this transaction was conducted as an “offshore transaction” with no “directed selling efforts” in the United States, they are exempt from the registration requirements of the Securities Act of 1933, as amended. This offers investors the opportunity to purchase the Company’s shares without having to register them with the SEC or seek an exemption.
About AnPac Bio
AnPac Bio-Medical Science Co., Ltd. is a pioneering biotechnology company on the cutting edge of early cancer screening and detection. With 155 issued patents and counting, AnPac Bio has certified clinical laboratories in both China and the United States, which are CLIA and CAP accredited and offer a range of cancer screening and detection tests, such as CDA (Cancer Differentiation Analysis), biochemical, immunological, and genomics tests. Additionally, the Company is expanding its business to the e-commerce food sector with the formation of its wholly-owned subsidiary, Fresh2 Technology Inc., and the acquisition of Fresh2 Ecommerce Inc. With these advancements, AnPac Bio is poised to revolutionize the world of cancer detection and prevention.