医療従事者の為の最新医療ニュースや様々な情報・ツールを提供する医療総合サイト

Osprey Medical Announces Oversubscribed A$28 Million Private Placement

2016年08月04日 PM09:00
このエントリーをはてなブックマークに追加


 

MINNEAPOLIS & MELBOURNE, Australia

Osprey Medical, Inc. (ASX:OSP) (Osprey or Company) today announces that it has received commitments from sophisticated and institutional investors to subscribe for 100 Million CHESS Depositary Interests (CDIs) (representing 50 Million shares of Common Stock) at A$0.28 per CDI to raise approximately A$28 Million (Placement).

The Placement will be completed in two tranches with Tranche 1 consisting of approximately 38.5 Million CDIs (representing approximately 19.3 Million shares of Common Stock) to be issued within Osprey’s 15% placement capacity under ASX Listing Rule 7.1 and its 10% placement capacity under ASX Listing Rule 7.1A. Tranche 2 will consist of approximately 61.5 Million CDIs (representing approximately 30.8 Million shares of Common Stock) to be issued subject to stockholder approval at a special meeting of stockholders (Special Meeting) to be convened by the Company on or about Tuesday, 30 August 2016.

The funds raised from the Placement will be primarily used by the Company to:

  • expand commercialisation of the DyeVertTM System;
  • continue research and development of the product portfolio, including DyeVertTM Plus;
  • ongoing clinical evaluations for scientific presentation and publication; and
  • provide expansion capital to accelerate growth.

Brandon Capital Partners, a 16.1% CDI holder in the Company (pre-Placement), has committed A$10 Million to the Placement (to be invested in Tranche 2).

Mike McCormick, President and CEO of Osprey, commented: “We are delighted with the oversubscribed placement. It reflects a strong endorsement from the investment community and places Osprey in a very strong position to aggressively expand its sales and marketing team in the US.”

“Our commercialisation efforts in the US have resulted in strong sales traction to date with 7 quarters of consecutive growth in sales and samples. Our original sales territory, San Antonio Texas, was profitable in June 2016 with other territories following a similar sales trajectory.”

Canaccord Genuity (Australia) Limited and Bell Potter Securities Limited acted as the Joint Lead Managers to the Placement. Vesparum Capital is acting as financial advisor to Osprey.

The CDIs under the Placement and Security Purchase Plan (described below) will be issued on the same terms as, and will rank equally with, the existing CDIs of Osprey.

 
Indicative Timetable¹²
Trading halt         Tuesday, 2 August 2016
Record date for SPP         Wednesday, 3 August 2016
Placement and SPP announced and Company resumes trading         Thursday 4 August 2016
Settlement of issue of Placement CDIs under Tranche 1         Wednesday, 10 August 2016
Allotment of issue of Placement CDIs under Tranche 1         Thursday, 11 August 2016

Special Meeting for approval of issue of Placement CDIs under
Tranche 2

       

On or around Tuesday, 30 August
2016

Settlement of Placement CDIs under Tranche 23         Monday, 5 September 2016
Allotment of Placement CDIs under Tranche 23         Tuesday, 6 September 2016

(1)  The timetable above is indicative only and may be varied subject to the ASX Listing Rules

(2)  All times are in AEST

(3)  Assumes stockholder approval (>50%) is granted at the Special Meeting

 

Security Purchase Plan

In addition to the Placement, the Company is offering existing holders of CDIs with registered addresses in Australia and New Zealand the opportunity to subscribe for up to approximately A$15,000 or approximately 53,571 CDIs under a Security Purchase Plan (SPP). The issue price under the SPP is A$0.28 per CDI, which is the same price as under the Placement. The amount raised under the SPP will be capped at A$1 Million. The proceeds of the SPP will be used by the Company for the same purposes as the Placement.

The record date for the SPP is 7pm (Melbourne time), Wednesday, 3 August 2016. Full details of the SPP will be released to the ASX and mailed to eligible CDI holders shortly.

About Osprey

Osprey Medical is focused on protecting patients from the harmful effects of X-ray dye (contrast) used during commonly performed angiographic imaging procedures. The Company’s core technologies originated from research conducted by Dr David Kaye at Melbourne’s Baker IDI Heart and Diabetes Institute. Its proprietary dye reduction and monitoring technologies are designed to help physicians minimize dye usage. The Company’s DyeVert™ System is a next-generation product that reduces contrast while maintaining image quality in a self-adjusting easy-to-use design. Osprey Medical’s Board and Management are comprised of experienced and successful personnel with established track records covering medical device development, regulatory approvals, sales and marketing, and mergers-acquisitions. Osprey Medical’s advisory board comprises world-recognised experts in heart and kidney diseases.

View source version on businesswire.com: http://www.businesswire.com/news/home/20160804005622/en/

CONTACT

Media
Buchan Consulting
Gavin Lower, (613) 8866 1215
glower@buchanwe.com.au
or
Investors
Buchan
Consulting
Rebecca Wilson, (61) 417 382 391
rwilson@buchanwe.com.au
or
Company
Osprey
Medical Inc.
Doug Schoenberg, (952) 955 8230
VP of Marketing
dschoenberg@ospreymed.com

Related Posts Plugin for WordPress, Blogger...
 

同じカテゴリーの記事 

  • 国际纳米技术展览暨研讨会——2017纳米科技展将为您带来尖端技术与材料的最新资讯,令超智能社会触手可及
  • Takeda and Ovid Therapeutics Announce Innovative Clinical Development and Commercialization Collaboration for TAK-935 in Rare Pediatric Epilepsies
  • Bioventus选择MEDSERVICE作为DUROLANE®在俄罗斯的经销商
  • “nano tech 2017 国際ナノテクノロジー総合展・技術会議”開催、超スマート社会の実現に貢献する最先端技術・材料の最新情報を発信!
  • nano tech 2017, the International Nanotechnology Exhibition & Conference, Brings You the Latest Information on the Cutting Edge Technologies and Materials Making the Super Smart Society a Reality