Artrya (ASX:AYA), a Perth-based medical technology company utilising artificial intelligence to transform the diagnosis and management of coronary artery disease, has announced the completion of its Share Purchase Plan (SPP) following a strong investor response.
The offer, which opened on 15 September and was due to close at the end of the month, was shut early on 26 September after being significantly oversubscribed. Artrya had aimed to raise approximately $5 million, but eligible applications totalled $8.7 million, prompting a pro-rata scale-back to ensure fairness among shareholders.
Under the SPP, 2.44 million new shares will be issued at $2.05 per share, the same price as Artrya’s earlier $75 million placement announced on 9 September. Excess funds from the scale-back will be refunded to applicants.
The strong investor appetite, according to the company, reflects continued market confidence in Artrya’s growth trajectory and its flagship Salix AI platform, which is a cloud-based tool designed for near real-time, point-of-care assessment and management of coronary artery disease.
Artrya’s Co-Founder and CEO, John Konstantopoulos, said the support reinforces belief in the company’s mission to “advance cardiac care through innovative technology.”