The Trendlines Group (SGX: 42T) said the second tranche of its subscription deal for the issue of up to 76.6 million new ordinary shares at SG$0.06 per share will not proceed due to lack of funds from certain subscribers, according to a Thursday filing on the Singapore Exchange.

With the development, the company's proposed subscription deal has been completed and it will not issue any further shares related to the subscription., the filing said.

The first tranche of the proposed subscription was completed on Nov. 7 and the shares issued under this tranche were listed on the SGX Catalist on the same day.