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Isonea Ltd Raises $13.5 Million Via Private Placement

Friday, 28 Jun 2013 04:35am EDT 

Isonea Ltd announced it has successfully completed a private placement with professional and sophisticated clients of Patersons Securities, at an issue price of AUD0.35 per share, raising approximately AUD13,500,000 before costs. The placement of up to 38,571,429 new fully paid ordinary shares represents 17.56% of the issued ordinary share capital in the Company as at the date of this announcement. Settlement of the placement, and the issue and allotment of the placement shares, is expected to occur on July 05, 2013. None of the subscribers for shares in the placement are related parties of the Company or associates of related parties. The funds raised from this private placement will be primarily used to directly fund the manufacture, supply and marketing of the Company‚Äôs AirSonea device due to be launched in Australia later this calendar year, and the US launch set for early calendar year 2014. 

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