Precision diagnostics company Proteomics International Laboratories has accepted applications to raise $7.5 million in gross proceeds from its Share Purchase Plan to complete a $12 million capital raise.
The Share Purchase Plan (SPP) was oversubscribed and has enabled eligible shareholders to purchase approximately 20.3 million new fully paid ordinary shares at $0.37 per New Share. It included one free attaching option for every two new shares issued.
The SPP follows completion of an institutional placement, which raised gross proceeds of $4 million and a director and key management personnel placement, which raised $500,000.
Proteomics International Managing Director Dr Richard Lipscombe said, “We are humbled by the huge vote of confidence from our shareholders who have supported the Share Purchase Plan in large numbers. At this pivotal point in our Company's development, with multiple first-in-class diagnostics going live this year on two continents, these funds enable Proteomics International to expedite commercialisation of the tests and significantly augment our awareness campaigns with consumers (patients, general practitioners, and specialists), advocacy groups and potential partners across the healthcare sector. On behalf of Proteomics International, I would like to thank all our shareholders.”
The company said the proceeds raised will be used to accelerate the commercial rollout of Proteomics International's suite of Promarker diagnostic tests.