- Azure Healthcare Limited is pleased to announce it has received binding commitments for a placement of shares to sophisticated and professional investors that will raise $2 million.
- Azure Healthcare also announces a 1 for 11.88 pro-rata, non-renounceable rights offer at $0.068 per share to raise up to $1.5 million.
- Demand for the Placement was inexcess of what was sought.
- Eligible Shareholders will be entitled to apply for additional shares in excess of their entitlements under the rights offer.
- Net proceeds will be used to:
- increase strategic marketing and sales presence in international markets, specifically the United States, Australia and Europe;
- develop brand awareness through trialling innovative new products in the United States, Australia, Europe and Asian markets; and
- make target purchases of certain materials that will enable the Company to materially reduce the lead time for high demand items as well as allowing for increased order quantities.
Please read the full Release HERE.