News and Announcements
MedAdvisor Completes $8M Oversubscribed Capital Raising
- Published October 19, 2016 3:15PM UTC
- Publisher Wholesale Investor
- Categories Company Updates
19th October 2016, ASX Announcement
Highlights
- MedAdvisor has successfully raised $8 million via an institutional placement (Placement)
- Placement was significantly oversubscribed, with strong support from both existing and new shareholders
- Strong participation from leading Australian institutions and pharmacies, providing further industry validation and recognition
- Funding will be used to complete the acquisition of Healthnotes, strengthening MedAdvisor’s market position and to fuel additional growth initiatives and scale
MedAdvisor Limited (ASX: MDR, the Company), Australia’s leading digital medication management company, is pleased to announce offers have been accepted to raise $8 million via an institutional placement (Placement).
200 million new fully paid ordinary shares, raising a total of $8 million, will be issued at $0.04 per share representing no discount to the 5 day VWAP and a discount of 10% to the last traded price.
To view the full announcement, please click on the button below.
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