** Shares of Control Bionics fall as much as 4% to A$0.073, their lowest levels since Aug 15
** Stock set to log its worst day since mid-Sept, if current trend holds
** The medical device manufacturer says it will raise A$1.15 mln ($783,495.00) via a share placement of 16.4 mln shares
** Placement at an issue price of A$0.07, a roughly 8% discount to last trading price on Sept 18
** Co says funds will be used for product software development, among others
** Newly issued shares represent ~23% of CBL's free float of 69.6 mln shares, according to LSEG data
** Including day's moves, CBL stock up 58.7% YTD
($1 = 1.4678 Australian dollars)
(Reporting by Kumar Tanishk in Bengaluru)
((Tanishk.Kumar@thomsonreuters.com;))
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