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MEMPHASYS LIMITED. — Capital/Financing Update 2022
Sep 18, 2022
65314_rns_2022-09-18_d9c8bef0-bed7-439f-8e1d-935cc77e9e64.pdf
Capital/Financing Update
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ASX ANNOUNCEMENT
ASX:MEM
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19 September 2022
RIGHTS ISSUE CLOSURE AND SHORTFALL NOTIFICATION
Memphasys Limited (ASX: MEM) ( Company or Memphasys ) refers to its capital raising comprising a placement and subsequent fully underwritten non-renounceable entitlement offer announced on 17 August 2022 ( Offer ) and the prospectus for the Offer released on 18 August 2022 ( Prospectus ). Capitalised terms in this announcement have the meaning given under the Prospectus unless the context requires otherwise.
The Company raised $1,600,000 through the Placement pursuant to sophisticated and professional investors, at an issue price of $0.02 per new Share (see ASX announcement dated 25 August 2022).
The Company advises that the Offer, conducted at the same issue price, closed at 5.00 pm (AEST) on Wednesday, 14 September 2022.
Funds raised from the Offer and Placement will be applied to product development, working capital (including salaries, consultancy fees and corporate overheads) and the settlement of debt and creditors. Refer to Section 3.1 of the Prospectus for further details.
Under the Offer, eligible shareholders were able to subscribe for 1 new Share for every 9 Shares held as at 5:00 pm (AEST) on Wednesday, 24 August 2022 at an issue price of $0.02.
The results of the Offer are as follows:
Total number of Shares 45,005,623 (including 25,509,966 applied for: under the Shortfall Offer) Shortfall Shares: 43,015,269
The Offer was fully underwritten by Canaccord Genuity (Australia) Limited who also acted as lead manager to the Offer. As such, the Shortfall Shares will be placed to the underwriters/sub-underwriters under the terms of the Underwriting Agreement.
The issue the new Shares under the Offer is scheduled to occur on Wednesday, 21 September 2022.
This ASX announcement was approved and authorised by the Board.
Your sincerely Alison Coutts Managing Director and CEO
For further information please contact:
Alison Coutts David Tasker Managing Director and CEO Managing Director Memphasys Limited Chapter One Advisors T: +61 2 8415 7300 T: +0433 112 936 E: [email protected] E: [email protected]
About Memphasys:
Memphasys Limited (ASX: MEM) specialises in biological separations and reproductive biotechnology for high value commercial applications.
Reproductive biotechnology products in development include medical devices, in vitro diagnostics, and new proprietary media. The Company’s patented bio-separation technology, utilised by the Company’s most advanced product, the Felix[TM ] device, combines electrophoresis with proprietary size exclusion membranes to separate sperm cells for human artificial reproduction. Website: www.memphasys.com