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HERAMED LIMITED — Capital/Financing Update 2020
Jun 4, 2020
65062_rns_2020-06-04_7c959afd-ab0f-4fd1-8165-b4dca2c8d245.pdf
Capital/Financing Update
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ASX ANNOUNCEMENT
05 June 2020
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Completion of $2.32m placement and share purchase plan launch
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HMD successfully raises $2.32 million
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Placement received strong support from both existing and new sophisticated and institutional investors
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Proceeds to be used to accelerate commercial roll out of HeraCARE and progress ongoing research projects
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HMD to undertake a Share Purchase Plan to raise up to $1.5 million
HeraMED Limited (ASX:HMD) (“HeraMED” or the “Company”), a medical technology company leading the digital transformation of maternity care with its proprietary telehealth maternity care platform, today announced that it has successfully obtained commitments to raise ~$2.32 million via a share placement to sophisticated and professional investors.
The placement is part of a capital raising initiative to raise up to ~3.82 million to strengthen the Company’s Balance Sheet and accelerate commercial rollout of its proprietary digital pregnancy monitoring platform, HeraCARE.
The placement is by way of the issue of 25,804,659 fully paid ordinary shares at $0.09 per share raising a total of ~$2,322,419, to new and existing sophisticated and professional investors. These shares will be issued as follows:
| Using the Company’s Listing Rule 7.1 Capacity | 15,581,652 |
|---|---|
| Using the Company Listing Rule 7.1A Capacity | 10,387,768 |
| Total Shares to be issued | 25,804,659 |
Henslow Pty Ltd acted as lead manager to the placement.
CEO and Cofounder Mr David Groberman said: “I am delighted by the support from both existing and new investors in this placement. Since the start of COVID-19, there has been a substantial increase in interest in our telehealth maternity care platform from healthcare professionals globally and these funds will ensure we capitalise on these opportunities. Pleasingly, there has also been a heightened interest in HeraMED from the investor community.”
In order to allow existing Eligible Shareholders (defined below) to participate in the capital raising, the Company is launching a share purchase plan (SPP). Under the SPP, Eligible Shareholders will be able to purchase up to $30,000 worth of new fully paid ordinary shares in the Company, up to a total raising of $1.5 million. This offer is irrespective of the number of shares an Eligible Shareholder currently holds.
The issue price of the shares under the placement and SPP of $0.09 represents a ~21% discount to the last close price of the Company’s shares on 29 May 2020 of $0.115 and an ~18% discount to the 5-day value weighted average price of $0.11 at that date.
If there is a shortfall in acceptances under the SPP, and subject to the Company having sufficient placement capacity, the balance of shares (up to 16,666,667 shares totalling $1.5 million) will be available to sophisticated, professional or other exempt investors at the discretion of the Company. Pleasingly the Company has already received firm indicative bids for over half the value of the SPP. Eligible investors who have a potential interest in any shortfall shares should contact the Company Secretary, Jonathan Hart on [email protected] to register their interest.
Eligible Shareholders are those shareholders whose registered addresses are within Australia or New Zealand as at 7.00 p.m. (AEST) on 29 May 2020 ( Record Date ). Shareholders with a registered address outside Australia or New Zealand at the Record Date ( Excluded Shareholders ) will not be eligible to participate in the SPP. The closing date for the SPP is 5:00pm Sydney time on 26 June 2020 (which date may be changed). Further details will be included in the Offer Booklet which will be mailed to Eligible Shareholders and released to ASX.
This announcement has been authorised by the Board of HeraMED Limited.
HeraMED Limited ACN 626 295 314 T: +61 2 8379 2961 | A: Suite 3, Level 10, 23-25 Hunter Street SYDNEY NSW 2000
-ENDS-
HeraMED Limited CEO and Co-Founder David Groberman M: +972 52 6991188 E: [email protected]
Company Secretary Jonathan Hart T: +61 2 8379 2961 E: [email protected]
Media Enquiries Melissa Hamilton Media & Capital Partners M: +61 4 1775 0274 E: [email protected]
Broker and Corporate Advisor
Tim Chapman Henslow Pty Ltd M: +61 419 897 062 E: [email protected]
About HeraMED Limited (ASX:HMD):
HeraMED is an innovative medical data and technology company leading the digital transformation of maternity care by revolutionising the prenatal and postpartum experience with its hybrid maternity care platform. HeraMED offers a proprietary platform that utilises hardware and software to reshape the Doctor/Patient relationship using its clinically validated in-home foetal and maternal heart rate monitor, HeraBEAT, cloud computing, artificial intelligence, big data and a digital social networking dashboard.
About HeraCARE
The Company’s proprietary offering, HeraCARE, has been engineered to offer a fully integrated maternal health ecosystem designed to deliver better care at a lower cost, ensure expectant mothers are engaged, informed and well-supported, allow healthcare professionals to provide the highest quality care and enable early detection and prevention of potential risks.
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