SUCCESSFUL COMPLETION OF $6.5M CAPITAL RAISING
Compumedics Limited (ASX: CMP) (“Compumedics” and “Company”) – an international leader in medical devices for sleep, brain and ultrasonic blood-flow monitoring – is pleased to announce that it has successfully completed a $6.5m placement, which was announced to market on 21 September 2016.
The placement comprised the issue of $4.5m of new shares in the Company and a $2.0m sell down of existing shares in Compumedics.
The placement was undertaken at $0.54 per share (3.0% discount to the VWAP immediately prior to the trading halt) and within the Company’s 15% placement capacity in accordance with ASX Listing Rule 7.1.
Dr David Burton, Executive Chairman of Compumedics, said:
“We are very pleased with the level and quality of support shown for the Company by this capital raising, which closed significantly oversubscribed.
“We are also very grateful to our long-term supporting shareholders and are delighted to welcome our new institutional shareholders onto our share register.
“This placement strengthens our balance sheet, providing greater flexibility to pursue the commercialisation of the current opportunities identified by Compumedics, whilst the sell-down improves the liquidity of the Company’s tradable securities.”
PAC Partners served as sole lead managers for the capital raising.
The new shares are scheduled to be issued on Monday, 26 September, 2016.