Listed lab business Universal Biosensors raising $25m

  • 📰 FinancialReview
  • ⏱ Reading Time:
  • 51 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 24%
  • Publisher: 90%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

Listed laboratory services provider Universal Biosensors was raising $25 million via an entitlement offer and a placement on Wednesday morning.

The stock’s been in trading halt since Tuesday but kicked off its raise on Wednesday.

The company split the cash call into a $5 million placement and a $20 million 1-for-6.85 non-renounceable entitlement offer. Both were priced at 77¢ per CHESS depository interest , a tight 1.9 per cent discount to Universal Biosensors’ last close. . Potential investors were told Viburnum Funds, an entity associated with Universal Biosensors’ chairman Craig Coleman would underwrite the raise.The term sheet said Universal Biosensors had patented technology using finger prick blood samples via a portable handheld device, and ambition to build a multi-product stable of biosensors in large markets.

It said the company would use the funds raised to accelerate existing product development, sales, expansion of specialist laboratory services, scale-up manufacturing and for research and development of next products.Petra Capital was the sole lead manager and book runner on the raise.is an award-winning journalist who writes on technology and healthcare from our Melbourne newsroom.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in MY
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Shrinking to ‘core’: AMP looks to sell its flagship businessAMP has not shrunk its way to greatness but managed its way to mediocrity through a process marked by strategic missteps and scandals.
Source: smh - 🏆 6. / 80 Read more »