-- Imricor Medical Systems (ASX:IMR) has secured firm commitments from new and existing institutional and sophisticated investors to raise AU$60 million through the issue of 32.4 million Chess depositary interests (CDI) at AU$1.85 per CDI, reflecting a 7.7% discount to its 10-day volume-weighted average price, according to a Monday Australian bourse filing.
The new CDIs will be issued in a single tranche under the company's existing placement capacity and will rank equally with existing CDIs, per the filing.
Settlement is expected on Thursday, with the new CDIs scheduled for issuance and set to begin trading on the Australian Securities Exchange on Friday, the filing said.
The funds will be used to accelerate the company's growth strategy, including launching NorthStar in the US, advancing regulatory approvals for its full electrophysiology platform, completing key clinical programs, progressing pulsed field ablation development, and supporting expansion in the Middle East and other target markets, the filing added.
The company's shares fell 1% in recent Monday trade.