By Marisa Wong
Milwaukee, Dec. 8 - Nanosonics Ltd. plans to raise A$12 million through a placement of shares, according to a company news release.
Nanosonics has priced the shares at A$0.55, which represents a discount of 12% to Nanosonics' closing share price and 11.6% to the company's five-day volume weighted average price on the Australian Securities Exchange on Dec. 4.
The company is also offering a non-underwritten share purchase plan allowing eligible shareholders to subscribe for up to $5,000 of ordinary shares at A$0.55 per share, according to the release.
Wilson HTM Corporate Finance Ltd. is the underwriter for the placement.
Proceeds will be used to accelerate the roll-out of its flagship product, the Trophon EPR, to provide capital for the development of other products and to facilitate Nanosonics' relocation to larger premises.
Based in Alexandria, Australia, Nanosonics develops infection control solutions for the health care industry.
| Issuer: | Nanosonics Ltd.
|
| Issue: | Shares
|
| Amount: | A$12 million
|
| Price: | A$0.55
|
| Warrants: | No
|
| Agent: | Wilson HTM Corporate Finance Ltd.
|
| Pricing date: | Dec. 7
|
| Stock symbol: | Australia: NAN
|
| Stock price: | A$0.565 at close Dec. 8
|
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