IMPEDIMED LIMITED — Capital/Financing Update 2020

Apr 26, 2020

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27 April 2020

ASX ANNOUNCEMENT

COMPLETION OF RETAIL ENTITLEMENT OFFER

Brisbane, Australia – ImpediMed Limited (ASX: IPD) ( ImpediMed or the Company ) is today pleased to announce the completion of the retail component ( Retail Entitlement Offer ) of its non-renounceable accelerated entitlement offer of 13 new shares ( New Shares ) for every 10 shares at a price of $0.0375 per New Share ( Entitlement Offer ). Participants in the Entitlement Offer will also receive 1 free unquoted option ( New Option ) for every 1 New Share subscribed for.

The Retail Entitlement Offer closed on Wednesday, 22 April 2020 at 5:00pm (Sydney time) and was not underwritten.

ImpediMed received valid applications from eligible retail shareholders for approximately 218.6 million New Shares, representing approximately 55% of New Shares offered under the Retail Entitlement Offer raising approximately $8.2 million.

The use of funds raised from the Entitlement Offer was outlined in the Company's announcement of Thursday, 2 April 2020. Approximately $8.2 million was raised from the Retail Entitlement Offer combined with approximately $10.0 million raised from the institutional component of the Entitlement Offer, bringing total funds raised from the Entitlement Offer to approximately $18.2 million, before costs.

“The Company is very pleased with the support we have received from both the Institutional and Retail investors,” said Richard Carreon, Managing Director and CEO of ImpediMed. “This capital raise leaves the business well capitalised with a pro forma cash balance, after raising costs, of approximately $24 million as at 31 March 2020. The funds raised will assist the Company in the next stage of commercialisation of the SOZO[®] Digital Health Platform with the Lymphoedema, Heart Failure and End Stage Renal Disease applications,” he continued.

New Shares and New Options subscribed for under the Retail Entitlement Offer will be issued on Wednesday, 29 April 2020, and in the case of the New Shares, commence trading on ASX on a normal basis on Thursday, 30 April 2020.

Enquiries

For further information regarding the Entitlement Offer, please call the Entitlement Offer Information Line on 1300 912 776 (within Australia) or +61 1300 912 776 (outside Australia) between 8.30am and 5.00pm (Sydney time) on business days during the offer period for the Entitlement Offer.

Authorised for release by the Board of Directors of ImpediMed Limited

Contact Details

Investor Relations Contact: Media Contact: Mike Bassett, ImpediMed Kyahn Williamson, WE Buchan T: +61 407 431 432 T: +61 3 9866 4722 E: mbassett@impedimed.com E: kwilliamson@buchanwe.com.au

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ImpediMed Limited ASX Announcement

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About ImpediMed

Founded and headquartered in Brisbane, Australia with US and European operations, ImpediMed is a medical software technology company that non-invasively measures, monitors and manages fluid status and tissue composition using bioimpedance spectroscopy.

ImpediMed produces a family of FDA cleared and CE Marked medical devices, including SOZO[®] for multiple indications including heart failure, protein calorie malnutrition and lymphoedema, sold in select markets globally.

For more information, visit www.impedimed.com.

Forward-Looking Statements

This announcement contains or may contain forward-looking statements that are based on management’s beliefs, assumptions and expectations and on information currently available to management.

All statements that address operating performance, events or developments that we expect or anticipate will occur in the future are forward-looking statements, including without limitation our expectations with respect to our ability to expand sales and market acceptance in the US and Australia including our estimates of potential revenues, costs, profitability and financial performance; our ability to develop and commercialize new products including our ability to obtain reimbursement for our products; our expectations with respect to our clinical trials, including enrolment in or completion of our clinical trials and our associated regulatory submissions and approvals; our expectations with respect to the integrity or capabilities of our intellectual property position.

Management believes that these forward-looking statements are reasonable as and when made. You should not place undue reliance on forward-looking statements because they speak only as of the date when made. ImpediMed does not assume any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. ImpediMed may not actually achieve the plans, projections or expectations disclosed in forward-looking statements. Actual results, developments or events could differ materially from those disclosed in the forward-looking statements.

Not for distribution or release in the United States

None of the information in this announcement constitutes an offer to sell, or the solicitation of an offer to buy, any securities in the United States. Neither this announcement nor the Prospectus (or any part of it) or the entitlement and acceptance form to be released in connection with the Retail Entitlement Offer, may be released or distributed directly or indirectly, to persons in the United States.

The entitlement to participate in the Entitlement Offer and the New Shares have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended ( U.S. Securities Act ) or the securities laws of any state or other jurisdiction of the United States. The entitlement to participate in the Entitlement Offer may not be taken up by persons in the United States or by persons (including nominees or custodians) who are acting for the account or benefit of a person in the United States, and the New Shares may not be offered, sold or resold in the United States or to, or for the account or benefit of, a person in the United States except in transactions exempt from, or not subject to, the registration requirements of the U.S. Securities Act and applicable securities laws of any state or other jurisdiction in the United States.

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ImpediMed Limited ASX Announcement