Pacific Edge Successfully Completes Capital Raising

Pacific Edge Limited (NZX: PEB) advises that its Share Purchase Plan (SPP) has been successfully concluded and the offer has now closed. The issue price has been confirmed at $0.3427 per share.

The SPP was the second stage of Pacific Edge’s capital raising and followed a successful $7 million placement to selected institutions and other eligible persons which was completed on 30 November 2018.

Chair of Pacific Edge, Chris Gallaher, said: “The capital raising has seen a number of new local and international investors join Pacific Edge’s register and reflects the growing interest in our company from institutional investors and fund managers. We thank shareholders for their ongoing support with the successful share placement and the Share Purchase Plan closing at the top end of the indicative range.”

Pacific Edge is seeking to position Cxbladder as the preferred bladder cancer diagnostics tests for physicians, patients and healthcare providers, particularly in the USA, which is the world’s largest healthcare market. The company is also focused on its home market of New Zealand, as well as South East Asia and Australia. The funds raised provide extra capital resources to assist the company to progress its commercial objectives and become cash flow positive as soon as possible.

The SPP closed on 25 January 2019 and shares will be allotted on 31 January 2019.