- eHealth software provider Respiri (RSH) has completed a share purchase plan (SPP) to raise $3.14 million
- Originally, Respiri sought to raise $1 million, however, due to strong support the capacity was increased to $3.14 million
- More than 57 million shares will be issued for 5.5 cents each
- The SPP follows a private placement completed in March that raised $2 million, bringing the total capital raised in recent months to $5.1 million
- Respiri says that it is now well capitalised for the commercial launch of its asthma management Wheezo device and platform planned for later this year
- Company shares are down 1.43 per cent and trading for 6.9 cents each
eHealth software provider Respiri (RSH) has completed a share purchase plan (SPP) to raise $3.14 million.
Originally, Respiri sought to raise $1 million and had the capacity to accept subscriptions up to $2 million. However, due to strong support, the board increased the SPP capacity to raise up to $3.14 million.
This has now been completed and more than 57 million shares will be issued for 5.5 cents each.
The SPP follows a private placement in March that raised $2 million and brings the total capital raised in recent months to $5.1 million.
Respiri said that it is now well capitalised for the commercial launch of its asthma management Wheezo device and platform planned for later this year.
Specifically, when initially announcing the SPP, the company said that funds from the SPP and placement would be used for product and clinical development, manufacturing, sales and marketing of Wheezo.
Company shares are down 1.43 per cent and trading for 6.9 cents each at 2:27 pm AEST.