Health care company PainChek (ASX:PCK) is set to raise about AU$5.1 million through a fully underwritten non-renounceable, pro-rata entitlement offer to shareholders on the basis of one new share for every eight shares held, priced at $0.025 apiece, according to a Monday filing with the Australian bourse.
The offer comes with one free attaching new option, with an exercise price of AU$0.05 and a 12-month expiry, for every new share issued, the filing said.
The proceeds will support the expansion of ANZ and UK Adult App sales in aged care and home care sectors, North American market entry post US Food and Drug Administration clearance, completion of Infant App commercial launch, and financing preparation, according to the filing.
PainChek shares rose nearly 4% in afternoon trade Monday.
Price (AUD): $0.03, Change: $+0.001, Percent Change: +3.57%
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