The Trendlines (SGX:42T) has allocated up to 83.7 million shares at around SG$0.067 per share to private investors, including Lion Global Investors, to raise around SG$5.6 million, according to a Thursday filing with the Singapore Exchange.

Shares of the Israel- and Singapore-based biomedical technology and agrifood company were down nearly 2% in recent trading.

The proposed placement is subject to completion terms, with the company's sponsor, PrimePartners Corporate Finance, expected to make an application tot eh SGX-ST for the placement shares.