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- Medical tech company Singular Health Group (SHG) enters a trading halt ahead of a capital raise
- Singular hasn’t revealed any details regarding the raise but did report having just 1.17 estimated quarters left of funding in its June quarterly report
- Yesterday, the company entered an option agreement to sell its 50 per cent shareholding in the GeoVR joint venture for $500,000
- SHG shares will be paused until Thursday, August 11, or when an announcement on the raise is released to the market
- SHG shares last traded at 12 cents each as of August 8
Singular Health Group (SHG) has entered into a trading halt as it plans for an upcoming capital raise.
There aren’t currently any details on the raise and the company hasn’t disclosed how it will spend the funds.
Under the halt, company shares will be paused until Thursday, August 11, or when an announcement on the raise is released to the market.
Singular is an ASX-listed medical technology company who aims to improve patient education and allowing patient-specific surgeries.
Yesterday, the company entered an option agreement to divest its 50 per cent shareholding in the GeoVR joint venture (JV) to JV partner TerraCentric.
The divestment will see Singular pocket $500,000 and a proposed ongoing licence fee or royalty.
“We welcome the decision by our JV partner and their interest in the anticipated sale of
the GeoVR asset as it would allow Singular to focus solely on advancing our medical
imaging technology and its commercialisation.”
Singular Health also revealed in its June quarterly report that it had just 1.17 estimated quarters left of available funding after reporting an operating cash outflow of $974,000.
The company said it was considering funding options to continue progressing its initiatives.
SHG shares last traded at 12 cents each on August 8.
