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Why BIMI International Medical Shares Are Trading Higher Today

Shares of small-cap penny stock BIMI International Medical Inc. (NASDAQ: BIMI) shares are trading higher after the company announced it entered a $5 million stock purchase agreement with chairman Fnu Oudom.

Benzinga · 06/10/2022 10:44

Shares of small-cap penny stock BIMI International Medical Inc. (NASDAQ:BIMI) shares are trading higher after the company announced it entered a $5 million stock purchase agreement with chairman Fnu Oudom.

Mr. Fnu Oudom agreed to purchase 12,500,000 shares of common stock of the Company for $5 million, or $0.40 per share.

In consideration for the Holders providing the waivers, the company agreed that it will use $500,000 of the proceeds to pay down portions of each holder's promissory note. 

BIMI International Medical is a healthcare products and provider, offering a broad range of healthcare products and related services and operates two private hospitals in China.

BIMI shares have traded as high as $13.35 and as low as $0.40 over a 52 week period.

BIMI International Medical shares were trading about 29% higher at $0.67 per share on Thursday at the time of publication.