iSonea in pre-open pending capital raising announcement Monday, November 14, 2011 by John Phillips iSonea (ASX: ISN) has been granted a trading halt by the ASX pending the release of details for a proposed capital raising, with the company's shares placed in pre-open.
iSonea has not yet indicated where the potential capital injection will be allocated, but the company is currently in a very interesting position and just last week made another significant step in the transformation of the company with a move to list in the U.S. using American Depositary Receipts (ADR's).
The opportunity of the international listing provides a direct market for U.S. investors to gain exposure to iSonea's Acoustic Respiratory Monitoring (ARM™) technology.
Importantly there is already interest in the U.S. for investor exposure to iSonea, highlighted by the recent up to $10.6 million raised over a two year period from New York-based Bergen Global Opportunity Fund, LP.
The halt will last until the earlier of announcement being made to the market, or the opening of trade on Wednesday 16 November.
ISONEA LIMITED
GL
ISN Price at posting:
0.7¢ Sentiment: Hold Disclosure: Held
