NTI 1.35% 7.5¢ neurotech international limited

The placement of 20 million ordinary new shares in the Company...

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    The placement of 20 million ordinary new shares in the Company was conducted at $0.20 per share, a 7% discount to the last traded price of $0.215 per share and 10.5% discount to the five-day VWAP of $0.223 as at 10 October 2017.

    The capital raising will be conducted under two tranches:

    Tranche 1 – comprising 13,205,266 shares, raising $2.641 million under the Company’s existing ASX Listing Rule 7.1 capacity;

    and Tranche 2 – comprising 6,794,734 shares, raising a further $1.359 million subject to shareholder approval to be sought at the upcoming general meeting.

    Settlement of Tranche 1 is expected on Friday 20 October, with approval and settlement of Tranche 2 expected in late November. These timings are subject to change.

    The funds raised in the placement will be used for further product enhancements on Mente Autism, manufacturing and purchase of additional inventory, investigating potential strategic initiatives and general working capital.

    Azure Capital Limited was sole lead manager to the equity raising
 
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