That was published earlier Today on the AFR Thread.
Health monitor company G Medical Innovations is tapping investors for $10 million via a placement.
A term sheet sent to fund managers, and obtained by Street Talk, said the company wanted to raise a minimum of $10 million at 43¢ per share.
G Medical also has the option to receive $2 million in oversubscriptions. The company is an Israeli maker of a smartphone "jacket" that turns your device into an on-the-go health monitor.
Hunter Capital Advisors and Otsana Capital are managing the raising. At 43¢ it represents an 18 per cent discount to G Medical's last closing price and a 4 per cent discount on the 30 day volume-weighted average price.
"Use of placement funds will be to fund the growth and expansion of G Medical's sale and marketing strategy," the term sheet said.
On Friday, G Medical revealed it closed a deal worth over $US405 million over the next three years with Hong Kong-based company First Channel, which will see its devices sold in India and Taiwan.
The deal puts the company, which was founded in 2014, at close to $1 billion in minimum commitments in the next five years.
Chief executive Yacov Geva told The Australian Financial Review 2018 would be an even bigger year for the business, as it aims to target the US and China, as well as introduce the second version of its smartphone case, called Prizma.
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