ImpediMed Limited (ImpediMed or the Company) is pleased to announce that it has received firm commitments to raise A$35m (before costs) by the way of institutional placement to support product, data and software enhancements, the development and commercialisation of the renal failure application, and general working capital.
Highlights
-- ImpediMed has received firm commitments from existing and new institutional and sophisticated investors to raise A$35 million at A$0.1525 per share.
-- Funds raised will support product, data and software enhancements, development and commercialisation of renal failure application and general working capital.
-- ImpediMed will also offer a non-underwritten share purchase plan to eligible shareholders in Australia and New Zealand to raise up to ~A$5 million.
Commenting on the capital raising, ImpediMed Managing Director and CEO, Richard Carreon, said, “We are very encouraged by the level of support investors have shown as we look to capitalise on the significant opportunity with the recently released PREVENT Trial results. Following the completion of the capital raising, we are now in a fully funded position to accelerate sales in Oncology, while still investing in our other key focus areas of Renal Failure and Heart Failure.”
“We thank our existing shareholders for their ongoing support and welcome new shareholders to the register. This is an exciting time for the Company, as we believe the PREVENT Trial results will be practice changing and the continued commercialisation of SOZO will positively impact the lives of so many patients,” he continued.
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