Guangdong Transtek Medical Electronics Co., Ltd. (SZSE:300562) announced a private placement of not more than 34,253,373 A shares for gross proceeds not more than 596,978,800 on May 19, 2020. The transaction will include participation from not more than 35 investors. The issuance price should not be less than 80% of the average price of the company's stock 20 trading days before the pricing base date. The number of shares to be issued does not exceed 18% of the company's total share capital before the transaction. The securities issued in the transaction shall not be transferred within six months from the date of the end of the issue. The transaction has been reviewed and approved by the 9th meeting of the 3rd board of directors of the company, and is subject to approval from the company's shareholders' meeting and from China Securities Regulatory Commission.