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HomeFinTechMedibio: Raises $3.5M via placement and SPP

Medibio: Raises $3.5M via placement and SPP

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  • Health technology company Medibio (MEB) plans to raise up to $3.5 million through a capital raise and share purchase plan
  • The company has received commitments for a $3 million placement of around 333.3 million new fully paid ordinary shares
  • Medibio will offer investors one free attaching option for every four new shares issued at 1.5 cents per option
  • Medibio will also conduct a $500,000 share purchase plan, which expected to fully underwritten
  • Proceeds will fund a depressive burden trial, MEBsleep and ilumen product commercialisation activities and consumer app development
  • Medibio is up 11.11 per cent and trading at 1 cent per share

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