ResApp announces institutional raising

Company News

by Anna Napoli

ResApp (ASX:RAP) has today announced its received firm commitments from institutional and sophisticated investors to raise $7.5 million.

The placement was oversubscribed with strong support from new and existing institutional and sophisticated investors.

Proceeds from the placement will strengthen the company's balance sheet to enable it to pursue multiple exciting projects.

The digital health company is set to invest in sales and marketing to commercialize its products in Australia, Europe and Asia.

Shares in ResApp (ASX:RAP)  are trading 11.11 per cent lower at 24 cents