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- Medical technology company Tali Digital (TD1) has ended the week in a trading halt as it prepares to launch a capital raising
- Tali’s securities will remain in a trading halt until February 16, unless it announces the details of the fundraise early
- The company hasn’t stated why it is raising capital, but it did shed some light on its financial situation in a recent quarterly report
- The MedTech business ended the December quarter with a solid $3.1 million worth of cash in the bank
- That’s enough funds to keep Tali running for an additional 5.2 quarters of growth, if its spend rate remains the same
- During the same quarter, Tali also received a US$2 million (around A$2.58 million) investment from Brand Capital International
- Shares in TD1 last traded for 4.2 cents each on February 11
Medical technology company Tali Digital (TD1) has ended the week in a trading halt as it prepares to launch a capital raising.
Tali’s securities will remain in a trading halt until Tuesday, February 16, unless it announces the details of the fundraise early.
The business hasn’t stated why it is raising capital at this stage, however, it did shed some light on its financial situation in a recent quarterly report.
The MedTech stock ended the December quarter with a solid $3.1 million worth of cash in the bank.
During the same quarter it also spent $597,000 on operating activities, including $185,000 on research and development.
At that rate of spend, the company had enough funds stashed away to keep itself running for another 5.2 quarters.
During the quarter, Tali also received a US$2 million (around A$2.58 million) payment from Brand Capital International — the strategic investment arm of The Times Group.
Brand Capital may invest an additional US$5 million (roughly A$6.46 million) in TD1 in the future to help fund the company’s rollout in the Indian market.
Shares in Tali Digital last traded for 4.2 cents each on Thursday, February 11.
