- Medical device company EMVision is raising $4.5 million to fund developing its portable brain scanner
- The company says it is looking to continue advancing its medical tech devices and clinical validation
- Shareholders will be able to buy into the company at 74 cents per share, marking a 13 per cent discount on its last closing price
- After falling and rising on the Australian market today, at market close the company’s share price has fallen flat
- Shares in the company are currently trading for 85 cents each
To help fund its product development EMVision is raising $4.5 million from shareholders.
The company specialises in developing and commercialising medical imaging technology. The funds raised will be used specifically to advance its portable brain-scanning device and to continue clinical validation.
“The funds raised will provide a stronger balance sheet to enable EMVision to execute on our product development and clinical validation strategy,” company Chairman John Keep said.
In its release to the Australian market today, the company outlined is has received funding commitments from both institutional and sophisticated investors.
“We are delighted with the support of existing shareholders and the opportunity to welcome a number of high-quality institutions to our register,” John added.
Shareholders will have the opportunity to buy into the company at 74 cents per share, marking a 13 per cent discount from yesterday’s closing price.
During early trade shares in the company fell four per cent but spiked over 11 per cent after 12:00pm AEDT. However, EMVision’s share price has settled flat again as market close approaches.
Shares in the company are currently trading for 85 cents each.