trending Market Intelligence /marketintelligence/en/news-insights/trending/au5ddi8-ksesguq4-jzquw2 content esgSubNav
Log in to other products


Looking for more?

Contact Us
In This List

Visioneering Technologies aims to raise A$11.9M


Global M&A Infographic Q1 2021


Q1 2021 Global Capital Markets Activity: SPAC IPOs, Issuance in Consumer Discretionary Sector Surge


COVID-19 Impact & Recovery: Private Equity

COVID-19 Impact & Recovery: Corporates

Visioneering Technologies aims to raise A$11.9M

Medical device maker Visioneering Technologies Inc. is looking to raise about A$11.9 million via a private placement and security purchase plan.

Under the private placement, the company is offering 49.2 million chess depositary interests, or CDI, representing the same number of class A common shares. The CDIs are priced at 18 Australian cents per CDI for proceeds of about A$8.9 million.

The private placement is expected to close Aug. 20.

Canaccord Genuity (Australia) Ltd. is acting as the lead manager for the placement.

Visioneering Technologies is also offering existing CDI holders to subscribe for up to about A$15,000 in additional CDIs per holder under a security purchase plan. Under the plan, the CDIs are priced at 18 cents apiece and the plan is capped at A$3.0 million.

The contact lens maker plans to use the proceeds for the development of sales and marketing in the U.S., to launch products outside the U.S., stacking up inventory to meet growing sales and new product development.