trending Market Intelligence /marketintelligence/en/news-insights/trending/ap3uhw7kqp_9oqpxyhppaa2 content esgSubNav
In This List

Avita Medical to raise A$16M to support US launch of device for burn treatment

Blog

A Pharmaceutical Company Capitalizes on M&A Activity with Brokerage Research

Blog

2021 Year in Review: Highlighting Key Investment Banking Trends

Blog

Insight Weekly: US stock performance; banks' M&A risk; COVID-19 vaccine makers' earnings

Blog

Global M&A By the Numbers: Q3 2021


Avita Medical to raise A$16M to support US launch of device for burn treatment

Avita Medical Ltd. said investors agreed to buy 320,475,665 of its shares through an institutional placement.

The shares were priced 5 Australian cents each, for A$16 million in expected proceeds.

The placement's first tranche of about A$12.8 million in shares is expected to settle June 12. The second tranche of about A$3.3 million in shares remains subject to shareholder approval at a July meeting.

Valencia, Calif.-based Avita Medical plans to use proceeds on the U.S. launch of Recell, a regenerative medical device for treating burns and wounds. The U.S. Food and Drug Administration is expected to complete its premarket review of Recell in the third quarter of 2018.