trending Market Intelligence /marketintelligence/en/news-insights/trending/cqs1g0mwwmy1gh77th30xa2 content esgSubNav
In This List

Zecotek forms new China unit, closes $5M equity financing

Blog

A Pharmaceutical Company Capitalizes on M&A Activity with Brokerage Research

Blog

2021 Year in Review: Highlighting Key Investment Banking Trends

Blog

Insight Weekly: US stock performance; banks' M&A risk; COVID-19 vaccine makers' earnings

Blog

Global M&A By the Numbers: Q3 2021


Zecotek forms new China unit, closes $5M equity financing

Zecotek Photonics Inc. closed a divisional equity financing of $5 million by selling a 6.67% equity interest in the newly formed, wholly owned subsidiary Zecotek Imaging China Ltd.

The photonics technology company secured the financing from a China-based industrial business group, which also made a "significant investment" in a recently announced nonbrokered private placement.

Canada-based Zecotek Photonics said the financing was based solely on the appraised pre-commercialized value of its patented lutetium fine silicate, or LFS, scintillation crystals, of about $75 million.

A.F. Zerrouk, chairman, president, and CEO of the company, said the funds raised will be used to enhance the production capacity and sales of patented LFS scintillation crystals.

Zecotek Imaging China, which will produce and commercialize Zecotek's LFS crystals, will operate in the Shanghai technology zone under its parent company Zecotek Imaging Systems Ltd.