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CONTROL BIONICS LIMITED — Capital/Financing Update 2024
May 16, 2024
64611_rns_2024-05-16_282e32a2-dee8-4a6a-8e59-e8cf6f5722fe.pdf
Capital/Financing Update
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17 May 2024
ASX ANNOUNCEMENT (ASX:CBL)
Control Bionics increases placement
Control Bionics Limited (ASX:CBL) is pleased to announce it has received additional commitments (“Additional Placement”) to subscribe to the placement announced to the ASX on 15 May 2024.
The commitments for the Additional Placement received from professional and sophisticated investors amounts to A$130,000 (before costs). An additional 3,023,258 new fully paid ordinary shares (“New Shares”) will be issued at an issue price of A$0.043 per New Share (“Issue Price”).
Lynx Advisors Pty Limited will receive a cash fee of 6% of the amount raised by the Additional Placement.
The Issue Price is a discount of 14% to the closing price of CBL shares on 16 May 2024 and a discount of 2.6% to the VWAP of the shares as calculated over the 15 days the shares were traded up to 16 May 2024.
The New Shares will be issued within CBL’s 10% capacity under ASX Listing Rule 7.1A.
This announcement has been authorised for release by the Board of Control Bionics Limited.
About Control Bionics:
Control Bionics is a medical device company assisting patients whose ability to communicate verbally or via text and social media is compromised by illnesses such as Motor Neurone Disease (MND) and Amyotrophic Lateral Sclerosis (ALS). Our core patented NeuroNode technology is a wireless wearable device that detects minute signals sent from the brain to any skeletal muscle and is captured as EMG (Electromyography) output. This output is then sent wirelessly via the NeuroNode to a personal computer, enabling speech and other computer controlled functions like email and texting. Our technology is integrated with eye gaze technology whereby the eye gaze enables a cursor to be moved about a computer screen, driven much like a mouse, and the NeuroNode acts as like the mouse button. Control Bionics is the only such product to harness three modalities – touch, eye and NeuroNode control – which combined yield unique benefits in terms of the ability of patients to express themselves with significantly faster speed and less fatigue.
Control Bionics recently extended its offering to mobility with the launch of DROVE – the autonomous wheelchair module. DROVE allows powered users the independence to operate their wheelchairs in their own homes for the first time.
Control Bionics is currently commercialising its most recent advancement in its technology, the NeuroStrip ® . This wearable, miniaturised EMG device provides the business with the opportunity to enter new markets such as health diagnostics, sports performance, and rehabilitation to name only a few potential markets.
Control Bionics operates in North America, Australia, Singapore, and Japan.
Control Bionics Limited
Registered Office: Level 4, 11-13 Pearson Street, Cremorne, Victoria, 3121, Australia T: +61 3 9897 3576 W: www.controlbionics.com ABN: 45 115 465 462
Investors and Media
Jeremy Steele – CEO and Managing Director [email protected]
Brett Crowley - Company Secretary [email protected]
Investor Relations:
Joe Durak Executive Director & Founder Lynx Advisors [email protected] +61 414 465 582
For further information visit the website: https://www.controlbionics.com/