- ImpediMed (IPD) has announced results from the options exercised in December 2020 and provided a preliminary cashflow report for the December quarter
- Following a $24.9 million entitlement offer, the company has received a further $6.6 million from the exercise of options
- This means the company issued over 177 million new shares to investors after options were exercised
- The remaining $9.1 million in outstanding options payments is due March 31, 2021
- Additionally, at the end of the December quarter, ImpediMed had $19 million in the bank
- On the market today, company shares are in the grey and trading at 12.5 cents per share
ImpediMed (IPD) has announced results from the options exercised in December 2020 and provided a preliminary cashflow report for the December quarter.
In April, the company bagged the first $10 million of its $24.9 million entitlement offer from institutional investors. The new funds will be used to help commercialise its lymphoedema detection product for which the company received its first batch of orders in March 2019.
December options
The company received $6.6 million in proceeds from the exercise of options for the December month — up from June’s $1.1 million and September’s $1.4 million. This means, the company issued over 177 million new shares to the investors who applied to exercise options.
The final exercise date for the unlisted options is March 31, 2021. $9.1 million in payments from exercised options remain outstanding and are due in this quarter. To participate, option holders must exercise their outstanding options by this date.
December quarter preliminary cashflow
Today, ImpediMed also reported its December quarter preliminary cashflow.
The company’s net operating cash outflow is expected to land below $7 million for the six month period ending December 31 — significantly better than the previously forecast $8 million.
At the end of the quarter, ImpediMed had $19 million in the bank, including the December options payout. The outstanding $9.1 million in options payments is due this quarter.
ImpediMed says it will release the full December quarterly report on Thursday, January 28, 2021.
On the market today, company shares are in the grey and trading at 12.5 cents per share at 2:46 pm AEDT.