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Pacific Edge Launches NZ$6 Million Retail Share Offer; Shares Up 4%

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Pacific Edge (ASX:PEB, NZE:PEB) launched a retail share offer aimed at eligible existing shareholders to raise up to NZ$6 million, with provision to accept oversubscriptions, according to a Thursday filing with the Australian and New Zealand bourses.

Eligible shareholders may apply for up to NZ$50,000 worth of new shares at an issue price of NZ$0.17 per share, per the filing.

The funds will be used to provide the company with additional resources and capacity to support ongoing operations and growth, assist in achieving Medicare re-coverage, and continue advancing evidence generation, product development, and innovation, the filing added.

The company's New Zealand shares rose around 4% in recent Thursday trade.

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