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- Digital health business, TALi Digital (TD1) expects to raise $3.22 million from a placement and entitlement offer to support the commercialisation and development of its products
- The placement will issue 139.8 million new shares at 1.1 cents each to raise $1.54 million
- This represents a 42.1 per cent discount to the last closing price and a 53.3 per cent discount to the 15 day volume weighted average price
- The entitlement offer will offer shares at the same price and aims to raise a further $1.68 million
- Shares have plummeted 31.6 per cent to 1.3 cents each
Digital health business, TALi Digital (TD1) expects to raise $3.22 million from a placement and entitlement offer to support the commercialisation and development of its products.
The funds will assist the company’s first-generation products with commercialisation.
They will also be utilised to clinically develop a second-generation offering and finance continued global partnership discussions.
A total of $1.54 million was raised in the placement from institutional and sophisticated investors.
The placement will see 139.8 million new shares issued at a price of 1.1 cents each.
This represents a massive 42.1 per cent discount to the last closing price and a 53.3 per cent discount to the 15-day volume-weighted average price.
Shares under the entitlement offer will be offered at the same price with shareholders able to subscribe for one new share for every seven held.
This is expected to raise $1.68 million.
TALi directors will participate in both the placement and entitlement offer, subject to shareholder approval.
“2022 is shaping up to be a transformative year for TALi,” Chairperson Sue MacLeman said.
“With the Akili agreement in place we have a strong and capable U.S. partner with whom
to bring our products to the largest healthcare market in the world.”
Taylor Collison has informed the company that it has obtained binding sub-underwriting commitments in the amount of $1.68 million, which is the amount planned to be raised under the entitlement offer. Tali intends to enter into an underwriting agreement with Taylor Collison to fully underwrite the entitlement offer.
Shares have plummeted 31.6 per cent to 1.3 cents each at 11:40 am AEDT.
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