Key highlights:
• Oventus receives firm commitments for $4.65m through a placement to existing and new institutional and sophisticated investors
• Fully underwritten Share Purchase Plan (SPP) to offer existing eligible shareholders the ability to acquire shares at the same price as the placement via an SPP – all directors intend to participate
• Placement and SPP shares priced at A$0.24, representing a discount of 18.4% to the 5-day VWAP and an 17.4% discount to the 20-day VWAP
• Investors who participate in the Placement and the SPP will receive a free attaching unlisted option on a 1-for-2 basis, exercisable at $0.36 with an expiry date of 30 June 2021
• Funds raised will underpin the strong existing demand for Oventus’ Lab in Lab business model with patient flow expected to accelerate as COVID-19 restrictions are gradually lifted in North America
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