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Oventus Announce Placement & Non-renounceable Entitlement Offer

Oventus receives firm commitments for approximately $7m in a Placement and launches underwritten $2.3m Entitlement Offer to support widespread roll out of 02VentTM Sleep Treatment platform for the treatment of Sleep Apnoea

Key points

  • Firm commitments received for a two tranche Placement to raise approximately $7million (before costs)
  • A fully underwritten 1 for 20 pro-rata non-renounceable entitlement offer (Entitlement Offer) launched, to raise approximately $2.3 million
  • Funds strengthen the balance sheet and support widespread rollout of Oventus O2VentTM sleep treatment platform
  • Funds underpin adoption of Oventus’ ‘lab in lab’ business model in the sleep and dental channels
  • The Placement heavily over-subscribed with strong support from existing and new professional and sophisticated investors
  • Follows recent news of agreements signed with sleep groups in Canada and the US and synergistic agreements signed with VirtuOx, Carestream Dental and Lyon Dental to underpin broad adoption of the ‘lab in lab’ business model
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