Imricor Medical Systems, whose shares have been on a tear since its last equity raising in July 2024, needs more cash to it get through to US Food and Drug Administration approvals for its flagship products.
Imricor was first out the gates with a capital raising on Monday. Dominic Lorrimer
The ASX-listed medtech started wall-crossing investors over the weekend, seeking support for an equity raising of as much as $80 million. Morgans was sole lead manager on the deal, slated to launch on Monday.
Imricor shares closed on Friday at $1.41, giving the company a $381 million market value. The stock has rocketed almost 180 per cent in the past six months.
It claims to be at the forefront of advancing MRI-compatible products for performing cardiac ablations, and says its equipment makes these procedures safer, faster and more cost-effective.
