Broncus (HKG:2216) terminated subscription agreements signed with two investors for the proposed issuance of 105.1 million shares at HK$3.11 each, according to a Tuesday Hong Kong bourse filing.

Shares of the lung disease treatment firm were down 1% in recent trade.

The proposed subscriptions, announced in October 2025, were expected to raise net proceeds of about HK$326.5 million for potential medical device acquisitions.

Broncus said it entered into termination agreements with the subscribers, under which the subscription agreements became null and void except for confidentiality obligations.

The medical device company said the termination is not expected to have any material adverse impact on its business, operations, or financial position and will not affect its future capital operations.