River investment management is pleased to announce that we have been mandated as co-lead manager to the CDX.ASX capital raising. This offer is available to Sophisticated and professional investors only.
The Company is seeking to raise approximately $4.5 million via the issue of approximately 15.0 million new fully paid ordinary shares in accordance with ASX L.R 7.1 and 7.1A (“New Shares”) (“Placement” or the “Offer”).
For every 2 New Shares allocated in the Placement, 1 unlisted option will be issued. The option will have an exercise price of $0.50 and an expiry date 1 year from the date of issue (“New Options”). The Company reserves the right to raise additional funds under the Placement within the Company’s available placement capacity (“Oversubscriptions”).
Last close price: $0.345
Offer price: $0.30 per share (13.0% discount to last close price [18.52% discount inclusive of the New Option3], and a 18.4% discount to 30-day VWAP [23.62% discount inclusive of the New Option3])
Please find attached a copy of the term sheet.
Firm bids are due by 2:00pm (Sydney, Australia time) Wednesday 8th February 2023.
Highlights:
- Proposed NASDAQ listing
- Recent clinical trial wins have bolstered CDX’s revenue
- Wearable’s launching soon
- Recent 4c demonstrating revenue growth across key divisions
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