OMH SCIENCE Group Co., Ltd (SZSE:300486) announced a private placement of not more than 81,301,876 A shares for gross proceeds of not more than CNY 600,000,000 on September 28, 2020. The transaction will include participation from not more than 35 investors. The issue price shall not be lower than 80% of the average price of the company’s stock on the 20 trading days before the pricing base date. The transaction has been approved at the 16th meeting of the company's 7th board of directors and still needs to be approved by its shareholders in a general meeting, Shenzhen Stock Exchange and the China Securities Regulatory Commission. The shares that are being issued are subject to a hold period of 6 months from the date of closing. The transaction is valid for 12 months from approval of shareholders in a meeting.