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Be the first with the news that moves the market- Australian medical imaging company, IMEXHS to raise $10 million for research and development of the company
- Under the placement, IMEXHS will issue 250 million shares at an issue price of $0.04 per share to raise $10 million
- On market close, IMEXHS is up 4.88 per cent and is selling shares for $0.043 apiece
Australian medical imaging company, IMEXHS to raise $10 million for research and development of the company.
The company has received significant demand from domestic institutions and from a range of new sophisticated investors for the placement.
Under the placement, IMEXHS will issue 250 million shares at an issue price of $0.04 per share to raise $10 million.
The placement will be completed in two tranches. The first tranche will issue 125 million new shares to raise $5 million. The second tranche will also issue 125 million shares to raise $5 million.
IMEXHS will also issue Forrest Capital 5 million options at 5.4¢ on or before 30 September, 2022 as part of its fee.
Funds raised from the placement will be used to bring forward the development of target markets, accelerate research and development, and for general working capital.
“The company intends to capitalise on the extensive distribution network and client base it has built in Latin America and speed up its campaign to break into the lucrative US market, with a RIS PACS market expected to reach approximately US$2.5 billion in 2027,” the company told the market.
CEO Dr German Arango is pleased with the placement.
“We are excited about the opportunities that this capital will enable, in allowing IMEXHS to more aggressively pursue its next chapter of growth and new product development,” German said.
“We welcome a broad range of new investors to the register and we look forward to implementing our vision of creating a major force in international medical imaging markets,” he added.
Canaccord Genuity Patersons acted as the Lead Manager to the placement and Forrest Capital acted as Co-Manager to the placement.
On market close, IMEXHS is up 4.88 per cent and is selling shares for $0.043 apiece.
