trending Market Intelligence /marketintelligence/en/news-insights/trending/a8srp2klcs8e8dzdsqnoba2 content esgSubNav
In This List

Admedus secures A$7.7M investment as part of recapitalization

Video

S&P Capital IQ Pro | Unrivaled Sector Coverage

Video

S&P Capital IQ Pro | Powering Your Edge

Blog

Enterprises are missing out on 24B by not optimizing cloud spending not going multicloud

Blog

Insight Weekly: Labor market struggles; solar demand remains strong; banks' deposit holdings


Admedus secures A$7.7M investment as part of recapitalization

Admedus Ltd. raised up to A$7.7 million from Star Bright Holding Ltd., a Hong Kong-based investor.

Star Bright subscribed for 42,599,866 Admedus shares, priced 10 cents each, for proceeds of $4.26 million, and for 26,289,636 shares, priced 13.03 cents each, for proceeds of $3.43 million.

The investment increases Star Bright's interest in Admedus to up to 19.99%. The investor can nominate up to four Admedus board members.

The placement with Star Bright plus a $5 million loan facility are part of Admedus' initiative to recapitalize and restabilize its financial position. The company added that it will remain in voluntary suspension until it releases more details regarding the recapitalization plan.

The companies also entered a memorandum of understanding for 60% of Admedus' vaccines business, for an initial investment of A$18 million.

Australia-based Admedus develops medical technologies and devices.