Australia's Respiri Ltd. completed its private placement of 39,375,000 ordinary shares at 8 Australian cents per share for gross proceeds of A$3.2 million.
Trading of the shares issued under the sale will occur on Dec. 27.
Respiri previously said the capital raising provides the company with the financial capability to produce and launch its wheezo product in early 2019. Wheezo is a device for managing asthma that also comes with a companion mobile application.
Fawkner Capital Management Pty. Ltd. acted as lead manager for the placement.