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Pacific Edge Undertakes $8m Share Placement
Pacific Edge Undertakes $8m Share Placement
Capital Investment To Assist The Push Through To Cashflow-Positive Position
Cancer diagnostics company Pacific Edge Limited (NZX:PEB) has undertaken an $8.0 million share placement to institutional and other select investors in New Zealand.
The placement was undertaken at no discount to market, with institutional and other select investors subscribing for new shares at $0.50 cents per share, the market price of Pacific Edge Limited shares traded on Tuesday 14 February 2017.
Pacific Edge is focused on building sales of its suite of innovative Cxbladder bladder cancer diagnostic tests and has been gaining traction in the USA market with a number of milestone achievements in the past year.
Pacific Edge Chairman Chris Gallaher commented: “The strong support we received for the share placement from institutional and other select investors in New Zealand has allowed us to cost efficiently and effectively strengthen our balance sheet as we continue to make good traction towards attaining a cashflow-positive position.”
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