Cardiex (ASX:CDX) completed a capital raising effort, securing $3.3 million through a placement of 36,111,112 fully paid ordinary shares.
The capital raising effort was directed towards institutional and sophisticated investors in preparation for the anticipated US market launch of the CONNEQT Pulse device in January 2025.
The new shares were priced at 9 cents each, reflecting a 9.1% discount from the last closing price and a 9.3% discount from the 15-day volume-weighted average price.
Each new share under the offer is accompanied by a free attaching listed option, under the ticker CDXOA.ASX, which can be traded and exercised at 20 cents until Nov. 30, 2025.
Craig Cooper and Niall Cairns, controlling Cardiex’s largest shareholder, C2 Ventures, along with company directors, will partake in the placement, pending shareholder approval at the upcoming general meeting.
The funds raised are earmarked for manufacturing, marketing, and sales, as well as commercial expansion and scaling up supply chains ahead of the US launch.
The shares issued will abide by ASX Listing Rules 7.1 and 7.1A, maintaining equal rank with existing shares upon issue.
Blackpeak Capital and Stralis Capital Partners served as joint lead managers for this placement, with a 6% fee of the total amount raised allocated to them.
Comments