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- Oneview Healthcare (ONE) has entered a trading halt while it plans an upcoming capital raise
- The company will remain in the halt until November 18 or when the announcement is made, whichever occur first
- In its September quarterly report, Oneview spent more than €2.2 million (around A$3.5 million) with the majority going towards staff costs
- As of September 30, the company had just over €2.6 million (roughly A$4.2 million) left of funding available, represent 1.2 months of use left if spending levels stay the same
- Oneview last tapped investors for cash in April 2019 when it undertook a $25 million capital raising
- It then used the money to strengthen its balance sheet, and speed-up sales of its products
- Shares in Oneview last traded for 4.7 cents on November 11
Oneview Healthcare (ONE) has entered a trading halt while it plans an upcoming capital raise.
The company will remain in the halt until November 18 or when the announcement is made, whichever occur first.
Oneview is yet to announce how much it is raising of what it will use the funds for.
In its September quarterly report, Oneview burnt through more than €2.2 million (around A$3.5 million) with the majority going towards staff, administration and corporate costs.
As of September 30, the company had just over €2.6 million (roughly A$4.2 million). Coupled with its cash outflows, it means the company has enough capital to support the business for just 1.2 more quarters if spending levels remain the same.
Oneview last tapped investors for cash in April 2019 when it undertook a $25 million capital raising.
The funds were raised through the issue of 100 million new Chess Depository Interests (CDIs), priced at 25 cents.
Oneview also undertook a security purchase plan (SPP) to raise a further $2 million.
Eligible shareholders were able to subscribe for up to $15,000 worth of CDIs without incurring any costs.
Oneview used the money from both the placement and SPP to strengthen its balance sheet and speed-up product sales.
Shares in Oneview last traded for 4.7 cents on November 11.
