Ann: Trading Halt, page-27

Brisbane-headquartered medtech ImpediMed was drumming up interest in a $20 million placement on Thursday morning, cashing in on changes to cancer care guidelines in the US.

Street Talk. Louie Douvis

ImpediMed was offering shares at 13¢ a share, a 16.1 per cent discount to the last close and 25.7 per cent lower than the 10-day volume weighted average price. (The stock has nearly doubled this year).

Term sheets sent to potential investors said ImpediMed would use the proceeds to fund investment in manufacturing capacity, software enhancements, evidence generation, sales and marketing, and reimbursement field support team for onboarding.

The raising comes after US’s National Comprehensive Cancer Network Guidelines were updated to recommend BIS for all cancer patients at risk of limb lymphoedema. NCCN guidelines apply to 97 per cent of cancers in US, and is expected to open up ImpediMed’s market.

Bids were due 5pm. Canaccord Genuity, Jarden Australia and Wilsons Advisory were the joint lead managers.