Admedus Ltd
ABN 35 088 221 078
ASX ANNOUNCEMENT
REGISTERED OFFICE:
26 Harris Road Malaga Western Australia 6090
PO Box 6879
East Perth Western Australia 6892
T +61 (0)8 9266 0100
F +61 (0)8 9266 0199
Einfo.au@admedus.com www.admedus.com
ADMEDUS SUCCESSFULLY COMPLETES $8.3M RIGHTS ISSUEStrong support received from existing shareholders for the Rights Issue to raise $8.3M with applications for $5.7M received
Rights Issue fully underwritten by Patersons Securities Limited
Follows successful completion of a $10M placement on 5 August 2016
Company emerges in a strong financial position to support its growth profile
Brisbane, Australia 2 September 2016
Admedus Limited (ASX: AHZ) today announces the successful completion of its fully underwritten 1 for 9 renounceable Rights Issue priced at $0.33 which closed on the 29th of August 2016 (Offer). The Offer was open to eligible shareholders as of the Record Date, the 12th of August 2016. Shareholders that applied for additional shares to their entitlement will be allocated their full applications.
"The Board and I thank shareholders for their support during the Rights Issue. This places the Company in a strong financial position as we pursue growth objectives. We are looking forward to driving the Company forward and building a global healthcare Company" stated Chair and interim CEO Mr Wayne Paterson.
Along with the $10M placement, Admedus has now raised a total of $18.3M, before costs, ensuring the Company emerges with a strong balance sheet for future growth. The funds raised will be used to:
make improvements in the manufacturing division to increase yields and gross margins on the regenerative tissue range;
expand the regenerative tissue range, including the release of new products into the market this financial year;
refine the R&D portfolio with a focus on products that are near to market; and
fund new market expansion across emerging markets and new product ranges.
Patersons Securities Limited acted as Lead Manager and Underwriter to the Offer. Valid applications for the Offer totalled circa $5.7M, with the balance of the Offer being placed by Patersons Securities Limited in accordance with the Underwriting Agreement.
Follow us:Twitter: @Admedus
Facebook: www.facebook.com/pages/Admedus Website: www.admedus.com
Blog: www.admedus.com/au/category/news/
For more information, please contact:Dr Julian Chick | Chief Operating Officer | Admedus Limited Tel: +61 (0)8 9266 0100
Media:Shevaun Cooper | PR Manager | Admedus Limited
Tel: +61 (0) 417 985 599 | Email: scooper@admedus.com
Media EuropeFTI Consulting
Simon Conway / Victoria Foster Mitchell Tel: +44 (0) 20 3727 1000
admedus@fticonsulting.com
US InvestorRx Communications Group, LLC Melody A. Carey
+1 917 322 2571
mcarey@rxir.com
About Admedus LimitedAdmedus (ASX: AHZ) is a specialist healthcare company. Our focus is on investing in and developing next generation technologies with world class partners, acquiring strategic assets to grow product and service offerings and expanding revenues from our existing, profitable medical sales and distribution business. The company has assets from research & development through clinical development as well as sales, marketing and distribution.
Admedus has commercialised its innovative tissue engineering technology for regenerative medicine in four continents. We also have a major interest in developing the next generation of vaccines with a Brisbane-based research group led by Professor Ian Frazer. The vaccine programmes target disease with significant global potential, such as Herpes and Human Papillomavirus.
Further information on the company can be found on www.admedus.com
Admedus Ltd. published this content on 01 September 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 31 August 2016 22:48:01 UTC.
Original documenthttp://clients2.weblink.com.au/clients/admedus/article.asp?asx=AHZ&view=6788867
Public permalinkhttp://www.publicnow.com/view/456EAE34CA3F537F88CC09E2CEEFF6C0C8193DA1