Healthtech PainChek seeks equity injection
Pain management tech PainChek was seeking a $3 million equity injection on Tuesday.
Canaccord Genuity was seeking investors for PainChek on Tuesday. Michele Mossop
The $36 million ASX-listed company had its broker Canaccord Genuity rounding up investors at 2.7¢ a pop, a 3.6 per cent discount to the last close and a 9 per cent discount to the 15-day VWAP. The raise was structured as a non-underwritten single-tranche placement.
Prospective investors were told proceeds will be used for the international commercialisation of PainChek’s Adult App in the aged care, homecare and hospital sector, as well as to submit the app for regulatory clearance, among other things.
The company last had cash on hand of $2.5 million and last reported revenue of $3.1 million and a loss of $7.5 million.
Final bids were called for by 5 pm on Tuesday.
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