août 2017
Osprey Medical Inc
Canaccord Genuity acts as Joint Lead Manager and Bookrunner to a AUD$32.5m capital raise for Osprey Medical, Inc.
Canaccord Genuity is pleased to announce on August 10, 2017, the completion of a capital raise of approximately 81.3 million new CDIs at an offer price of AUD$0.40 per CDI, raising gross proceeds of A$32.5 million on behalf of Osprey Medical, Inc. (“Osprey”). The transaction consisted of a placement to raise A$22.2 million and a fully underwritten entitlement offer to raise A$10.3 million. Canaccord Genuity (Australia) acted as Joint Lead Manager and Bookrunner for the transaction, which was heavily oversubscribed by both new and existing institutional shareholders.
The proceeds of the capital raise will be applied towards expansion of Osprey’s US sales force, provide support for post-approval market trials, continued research and development of Osprey’s product portfolio, and general working capital requirements.
Osprey is focused on improving patients’ quality of life by protecting those with chronic kidney disease from contrast induced nephropathy. The Company’s primary product, the DyeVertTM System, is designed to reduce and monitor the amount of dye (contrast) injected during commonly performed heart and peripheral procedures.
