Pacific Edge raises $16 million of new equity
Pacific Edge has raised $16 million of new equity in a placement of new ordinary shares — $1 million more than it sought — after directors resolved to accept over-subscriptions.
On Friday, the cancer diagnostics company announced a $20 million capital raise, saying it was about ensuring it had the cash reserves to capitalise on recent clinical and commercial milestones, grow in non-Medicare channels in the United States and regain Medicare coverage of its tests.
It comprised a placement of $15 million of new ordinary shares offered to selected investors and an offer of $5 million of new shares to retail investors, by way of a share-purchase plan.
The share issue was priced at $0.10 per share.
This morning, the company said the place — which was well supported by existing shareholders — was completed on Friday and is subject to shareholder approval.
It was now targeting the opening of a $5 million offer to eligible retail investors by way of a Share Purchase Plan (SPP) at the same NZ$0.10 cents per share offer price in July or early August 2025, with the ability to accept oversubscriptions. _ APL
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