Oct 13, 2017 Business & Finance Comments Off on Medibio completes heavily oversubscribed institutional placement for $13.9 million to accelerate commercialisation
SYDNEY, Australia and MINNEAPOLIS, Oct. 12, 2017 (GLOBE NEWSWIRE) — Medibio Limited (ASX:MEB)(OTCQB:MDBIF) is pleased to announce that it has received firm commitments to raise $13.9 million via the placement of 38,736,640 ordinary shares at a price of $0.36 per share. The placement will be conducted in a single tranche using the Company’s existing placement capacity under ASX Listing Rule 7.1 and 7.1A.
The funds will allow the Company to:
Aesir Capital Pty Ltd acted as Sole Lead Manager to the transaction.
About Medibio Limited
Medibio (ASX:MEB) (OTCQB:MDBIF) is a mental health technology company that has pioneered the use of objective biometrics to assist in the screening, diagnosing, monitoring and management of depression and other mental health conditions. The company was founded in Australia, with offices located in Melbourne (Vic), and U.S. offices in Minneapolis, MN and Palo Alto, CA. Medibio is listed on the Australian Securities Exchange Ltd and trades on the OTCQB Venture Market www.otcmarkets.com and www.asx.com.au.
Additional disclosure required by listing rule 3.10.5A
In accordance with listing rule 3.10.5A in relation to shares issued under the Company’s 7.1A capacity details of the placement are:
Effect of raising
The effect of the announced raising on the capital structure of the Company is set out below.
|Shares currently on issue||156,196,558|
|Shares to be issued under LR7.1 placement capacity||23,141,984||14.82||%|
|Shares to be issued under LR7.1A placement capacity||15,594,656||9.98||%|
|Total Shares on issue after completion of the Placement||194,933,198||24.80||%|
The Company believes the benefits from funds raised in this placement at a discount to the 15-day VWAP of 11.9% outweigh the inability of shareholders to participate. The placement was not underwritten and direct costs of the raising are up to 7.5% of funds raised.
Further Information: Website: www.medibio.com.au Medibio Shareholder Enquiries: Jack Cosentino CEO and Managing Director Medibio Limited email@example.com T: +1 (952) 465 4787 Australian Media Enquiries: Peter Taylor NWR Communications firstname.lastname@example.org T: +61 (0) 412 036 231
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