Imricor Medical Systems, Inc. announced a private placement of 2,564,103 shares of Class A Common Stock at AUD 0.61 per share and 2,127,056 CHESS Depositary Interests at AUD 0.61 per CDI for the aggregate total gross proceeds of AUD 2,861,607 on August 15, 2023. The price per share or CDI was determined by the VWAP of the company?s CDIs over the five
days prior to closing, with no discount applied. The Class A Common Stock issued to US investors, and also upon exercise of the warrant, are subject to a 12-month holding period. The transaction included participation from US investors and New Zealand investors. US investors also received 10-year warrants to purchase a total of 384,616
additional shares of Class A Common Stock and New Zealand investors also received 10-year warrants to purchase a total of 319,068 additional CDIs at AUD 1 per CDI.