- Microscopic imaging company Optiscan Imaging (OIL) is planning a capital raise, with aims to raise up to $9,813,499
- More than 118.9 million fully paid ordinary shares will be issued to sophisticated and professional investors at 8.25 cents each
- Participants will also receive one free attaching option for every four shares subscribed for with an exercise price of 15 cents and an expiry date 30 months from issue
- Optiscan will use the money to build its inventory, fund potential clinical trials, and undertake third party testing
- Optiscan’s share are still paused and last traded for 10.5 cents on September 18
Microscopic imaging company Optiscan Imaging (OIL) is planning a capital raise, with aims to raise up to $9,813,499.
The company entered back-to-back trading halts yesterday, but did not disclose how much it would raise at that time.
Up to 118,951,500 fully paid ordinary shares will be issued to sophisticated and professional investors at 8.25 cents each.
Further, participants will receive one free attaching option for every four shares subscribed for. These options will be exercisable at 15 cents and will expire 30 months from the date of issue.
However, the issue of the options is subject to shareholder approval at the company’s annual general meeting (AGM) on November 26.
Optiscan will use the money to build its inventory, fund potential clinical trials, and undertake third party testing for regulatory purposes, product research, and development.
Additionally, Optiscan has entered a binding subscription agreement with Clermont Group member, Orchid Capital Investments (simply known as Clermont).
Clermont will be a cornerstone investor and has subscribed for roughly $7,382,513 in shares, subject to the number of shares issued.
It also has the right to appoint one Non-Executive Director to Optiscan’s Board, as long as it maintains at least a 10 per cent interest in the company.
Optiscan’s share are still paused and last traded for 10.5 cents on September 18.