Artrya (ASX:AYA) has received binding commitments for a $5 million placement at $0.42 per share.
The company said the funds will support the ongoing commercialisation of its AI platform that detects critical coronary artery disease imaging markers.
The proceeds will be used for product development, clinical research and development, regulatory work, IT infrastructure and security, and working capital.
Petra Capital acted as the sole lead manager and bookrunner for the placement.
Artrya CEO Mathew Regan said, “We are delighted with the support for the Placement and welcome a number of new highly credentialled investors to the register, alongside Healthliant Ventures, the venture arm of US hospital system Tanner Health. On behalf of the Board of Directors I would also like to thank our existing shareholders for their ongoing support. At this pivotal moment for the Company, the Placement supports and accelerates our ongoing initiatives as we await regulatory clearance from the US Food and Drug Administration (FDA) for the Salix® Coronary Anatomy product.
The $5 million placement has been completed at $0.42 per share, representing a 16 per cent discount to the last closing price and a 17.9 per cent discount to the five-day volume weighted average trading price as of 7 November 2024.