ADMEDUS SECURES FUNDING THROUGH FURTHER INVESTMENT
Admedus Limited (ASX:AHZ) is pleased to announce that is has secured commitments for 20,000,000 shares to be issued to institutional and sophisticated investors at an issue price of $0.30 per Share, raising approximately $6 million (exclusive of costs) (Placement).
These shares will be issued under the Company’s ASX Listing Rule 7.1 placement capacity.
We have also issued an invitation to existing shareholders to participate in a Share Purchase Plan (SPP) that offers the opportunity to subscribe for up to A$15,000 worth of new Admedus fully paid ordinary shares at an issue price of $0.30 per Share.
Funds raised from both the Placement and SPP, will enable the Company to expand and progress its strategic projects, including, the acceleration of our 3D product portfolio from development to commercialisation.
Key details
• Introduces new institutional investors.
• Capital funding to accelerate commercialisation of new products in development pipeline, including TAVR.
• Placement of approximately $6 million from high quality institutional and sophisticated investors motivated by Company turnaround and significant potential of product portfolio.
• Directors contributing 12% of Placement, subject to shareholder approval.
• SPP opportunity for existing shareholders to increase their holding at the same price as the Placement.
• Will capitalise on current momentum by increasing revenue opportunities through the introduction of multiple new products.
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