Avita Medical Limited
(ASX:AVH) has announced a $10 million equity financing as the company continues its funding strategy.
The regenerative medicine company announced the closing of a $10 million common stock placement to sophisticated and institutional investors through the issue of 107 million shares at a price of 93c per share.
Avita Medical said the placement is part of its funding strategy to support its commercialisation goals.
Subject to clearance of subscription funds, the new shares under the placement are expected to be allotted today and will rank equally with all ordinary shares in Avita Medical.
Avita Medical reported a net loss of $7.1million at 30 June 2015.
