DLA Piper advises Aesthetic Medical International in receiving PIPE investment
DLA Piper has advised Aesthetic Medical International Holding Group Limited (Nasdaq: AIH), a leading provider of aesthetic medical services in China, on an equity financing arrangement which will see an affiliate of Lafang China Co. Ltd. (Lafang) provide AIH with RMB 100,000,000. The financing will take the form of an amendment to the existing share subscription agreement, originally entered into between AIH, Lafang, and certain affiliates of AIH on 16 May 2021.
AIH, known as “Peng’ai” in China, is a leading provider of aesthetic medical services. It operates through treatment centers in major Chinese cities, and also has a presence in Hong Kong and Singapore. Leveraging over 20 years of clinical experience, AIH provides one-stop aesthetic service offerings, including both surgical and non-surgical aesthetic treatments, and other general medical and aesthetic services.
DLA Piper Corporate Partner James Chang, who co-led on the transaction, commented: "This transaction is indicative of the continued strength of DLA Piper’s Corporate Finance, and Mergers and Acquisitions practices in Greater China, and our strong presence in the consumer industry sector. It is another example of our commitment, and our ability to deliver exceptional results for our clients amidst the challenges of an ongoing global pandemic, and the associated domestic restrictions.”
The DLA Piper team was jointly led by Beijing-based Corporate Partner James Chang, and Hong Kong-based Head of Energy in China, Carolyn Dong. They were supported by Michael Huang, Senior Associate in Shanghai, and Associates Vera Chen in Beijing and Qianshan Liu in Shanghai. Yang Ge, Corporate Partner in Beijing, provided United States securities law advice; Sidney Burke, Partner and Co-Head of Corporate in New York, and Arthur Tso, Corporate Partner in Hong Kong also provided advice.