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Oventus Medical raises A$7.6M via oversubscribed placement of shares

Oventus Medical Ltd. completed an oversubscribed placement of 13.8 million shares priced at 55 Australian cents apiece, raising gross proceeds of A$7.6 million.

The company plans to use net proceeds to strengthen its workforce, support operational execution, develop its dentist sales channel, develop a market strategy for its sleep clinician sales channel and bring to market two new products.

Bell Potter arranged the placement.