Dear SomnoMed Shareholder
SomnoMed Limited (“SomnoMed” or the “Company”) is pursuing an exciting new growth opportunity, involving the rollout of a network of US based treatment centres which will provide Obstructive Sleep Apnea (“OSA”) patients with direct access to SomnoMed’s world leading oral devices.
This initiative, which creates a new sales channel in addition to the established dental and medical channels, has the potential to enhance the growth of SomnoMed in the medium term.
We are offering you the opportunity to participate in an accelerated non-renounceable entitlement issue of 2 new ordinary shares in SomnoMed for every existing 25 shares held at an issue price of $2.50 per share. The funds raised from the entitlement offer will be $10.5 million which will be utilised to provide working capital for the Company and any capital investment associated with SomnoMed’s new Direct To Patient business, Sleep Centres America Inc. (“SCA”).
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