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http://www.afr.com/street-talk/a ... ons-20160726-gqejfj
Admedus in $16m raising through Patersons
Admedus is in a halt while its broker goes about finding $16 million for an equity raising.
Health stock Admedus is in a trading halt as the company goes about raising $16 million via a placement and rights issue.
Broker Patersons Securities contacted potential investors on Wednesday morning, seeking support for the equity offer.
Admedus was seeking to issue 22.7 million shares at 33¢ each, which was a 27 per cent discount to the last close.
The placement was to be followed by a one-for-eight rights issue to raise another $9 million at the same price.
Patersons was lead manager to the placement and lead manager and underwriter to the rights issue, according to terms sent to potential investors.
The broker was seeking bids for the placement and sub-underwriting commitments by Thursday morning.
Admedus had a $88 million market capitalisation prior to the raising.
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