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Oventus Medical - Share Purchase Plan closes oversubscribed

Obstructive Sleep Apnoea (OSA) treatment innovator, Oventus Medical Ltd (ASX: OVN) is pleased to announce that the Share Purchase Plan (SPP) announced on 1 May 2020 has successfully closed, with subscriptions received from shareholders, totalling $12.64m. Once scaled back to the $2m SPP cap and combined with the institutional placement (which closed 1 May 2020), the total offer raised approximately A$6.65 million (before costs).

Under both the Placement and the SPP, the Company offered one (1) free attaching unlisted option for every two (2) new shares subscribed for (Options). The Shares under the Placement and the SPP had an issue price of $0.24 each. The Options offered under the SPP and the Placement will have an exercise price of $0.36 and will expire on 30 June 2021. 

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