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Osprey Medical Inc Announces AUD14 Million Placement


Tuesday, 15 Oct 2013 06:21pm EDT 

Osprey Medical Inc announced it has received commitments for an oversubscribed private placement of 21,538,461 CHESS Depositary Interests (CDIs) (representing 10,769,230 shares of common stock) with international and domestic institutions and accredited and sophisticated investors to raise AUD14 million at a price of AUD0.65 per CDI (Placement). The funds raised significantly strengthens the Company’s balance sheet as the Company pursues its primary objectives being: up-­coming targeted US launch of the AVERT System; completion of the AVERT trial to enhance the FDA approved marketing claim to include "prevention of CIN"; completion of the 20-­patient diabetic limb recovery trial followed by filings to seek Australian and European marketing clearance for the diabetic limb recovery product; further product development; and commercial launch of the AVERT System targeted for mid­2015. Canaccord Genuity (Australia) Limited is the lead manager of the Placement. 

Company Quote

0.59
-0.025 -4.07%
16 Sep 2014