Business
Regencell Bioscience Holdings Limited Announces Over $1 Million Ordinary Share Purchase by CEO
HONG KONG--(BUSINESS WIRE)-- Regencell Bioscience Holdings Limited (NASDAQ: RGC) (“Regencell” or the “Company”), an early-stage bioscience company focuses on
About this update from Regencell Bioscience Holdings Limited
[{"type":"text","content":" HONG KONG--(BUSINESS WIRE)--\nRegencell Bioscience Holdings Limited (NASDAQ: RGC) (“Regencell” or the “Company”), an early-stage bioscience company focuses on the research, development and commercialization of TCM for the treatment of neurocognitive disorders and degenerations, as well as infectious diseases affecting people’s immune system, announced that Yat-Gai Au, the Company’s Chairman & CEO, made Ordinary Share purchases of Regencell (“Ordinary Shares”) totaling $1,125,807.\n\nAs per the Schedule 13D filed with the SEC on November 22, 2021, Mr. Au has used an aggregate of $1,125,807 of his personal funds to purchase Ordinary Shares made through the Reporting Persons’ Rule 10b-18 Plan. According to the 10b-18 Plan, following the purchases, Mr. Au owns a total of 10,392,584 Ordinary Shares, representing 80.15% of Ordinary Shares issued and outstanding.\n\nMr. Au noted, “These share purchases using my personal funds, reflects my confidence in Regencell’s business strategy of becoming a market leader for the treatment of ADHD and ASD disorders, as well as infectious diseases such as COVID-19 (“COVID”). Our research and studies aim to address the fundamental causes of and achieve improvements in both symptoms and overall health of patients, as compared to currently available medications for ADHD/ASD disorders and COVID. We believe that we can make a difference!”\n\nThe Ordinary Shares were acquired for investment purposes. In the future, Mr. Au may make further purchases of the Ordinary Shares from time to time and, subject to certain restrictions, may dispose of any or all of the Ordinary Shares held by the Mr. Au at any time depending on an ongoing evaluation of the investment in such securities, prevailing market conditions, other investment opportunities and other factors. However, certain of such shares are subject to certain lock-up restrictions as further described in Regencell’s filings with the SEC.\n\nAbout Regencell Bioscience Holdings Limited\nRegencell Bioscience Holdings Limited is an early-stage bioscience company that commenced operations in Hong Kong is 2014. Regencell focuses on the research, development and commercialization of TCM for the treatment of neurocognitive disorders and degenerations, specifically ADHD and ASD, and infectious diseases affecting people’s immune system such as COVID. Regencell has c...