- Medical technology company 4DMedical (4DX) has successfully completed a share purchase plan (SPP) and raised $6 million
- The SPP follows a $40 million placement that was completed earlier in the month
- Initially, the company planned to raise $3 million, but it was increased to $6 million after $32 million in applications were received
- 4DMedical will use the money from both the placement and SPP for the development and commercialisation of its XVD Scanner
- The XVD Scanner is a safe, sensitive and accurate lung health assessment for adults and children
- 4DMedical has ended the day 4.88 per cent in the green with shares trading at $1.72
Medical technology company 4DMedical (4DX) has successfully completed a share purchase plan (SPP) and raised $6 million.
The SPP follows a $40 million placement that was completed earlier in the month.
Initially, 4DMedical planned to raise $3 million under the plan but increased it to $6 million as 1873 application were received totalling $32 million.
As a result, 3.87 million new fully-paid ordinary shares were issued to shareholders at $1.55.
Shares are expected to be issued on April 7 and begin trading on the ASX on April 8.
4DMedical will use the money from both the placement and SPP for the development and commercialisation of its XVD Scanner.
The XVD Scanner is a safe, sensitive and accurate lung health assessment for adults and children.
“The proceeds from the placement and SPP, together with the $28.9 million of funding from the MRFF Frontiers initiative, provide 4DMedical with a significantly enhanced capability to execute the long-term commercialisation strategy for XVD Scanners,” CEO and Founder Andreas Fouras commented.
“The company now also has balance sheet flexibility to pursue future growth opportunities,” he added.
4DMedical has ended the day 4.88 per cent in the green with shares trading at $1.72 in a $476.5 million market cap.