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SG biotech firm Austrianova secures $100m commitment from GEM Photo: Austrianova April 23, 2021 Biotech company Austrianova has signed an agreement with Luxembourg-based private equity firm GEM Global Yield for a share subscription facility of up to $100 million for a 36-month term following a public listing. The agreement allows Austrianova to draw down funds by issuing shares of common stock to GEM, the company said in a statement.  Austrianova will control the timing and the maximum size of its drawdowns and has no minimum drawdown obligation. The deal also allows GEM to buy up to 4.2% of the common stock of Austrianova when it lists publicly. The company said it plans to go public via a SPAC merger or a traditional IPO, but did not give further details. 

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