SomnoMed is today pleased to announce the successful completion of the Institutional Entitlement Offer. Approximately 1.97 million New Shares will be issued to successful applicants under the Institutional Entitlement Offer at an issue price of $3.00 per New Share (Offer Price), raising approximately $5.9 million.
The Institutional Entitlement Offer received strong support from existing shareholders and the shortfall, comprised of the entitlements not taken up by eligible institutional shareholders along with the entitlements of ineligible institutional shareholders will be taken up by TDM Asset Management Pty Ltd and other major existing shareholders.
As a result of the successful completion of the Institutional Entitlement Offer, SomnoMed shares will recommence normal trading on an ex-entitlement basis from the opening of the market on 21 February 2018.
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