ImpediMed Limited (ImpediMed or the Company) (ASX:IPD) is pleased to announce the successful completion of its Share Purchase Plan (SPP). The SPP closed on Thursday, 12 November 2021 heavily oversubscribed, with more than 1,500 applications received for a total of over $32 million, well in excess of the Company’s target of $5 million.
The SPP was announced on 27 October 2021 following the completion of a $35 million placement (Placement). The SPP was offered to eligible shareholders to raise up to $5 million with each eligible shareholder allowed to subscribe for up to $30,000 of new ordinary shares in the Company at a price of $0.1525, equivalent to the issue price under the Placement, subject to any scale back.
Consistent with the strong interest in the recent Placement, there was also very strong demand for shares offered under the SPP, with over $32 million in demand. In accordance with the terms and conditions of the SPP, and to accommodate a more equitable resolution, the Company has enacted the following...
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