SomnoMed: Ties up $15.5M raise to secure future amid COVI-19 pandemic
- SomnoMed (SOM), a company working in diagnostics and treatment for sleep disorders, has completed the second stage of a $15.5M capital raising
- The company has now completed the retail component of its entitlement offer, securing $5.8M
- It followed an institutional component which raised $9.7M
- SomnoMed has operations in 28 countries and, to varying degrees, all of which has been impacted by COVID-19
- Due to the unknown duration of those disruptions, the Board decided to undertake the capital raising
- SomnoMed shares gained 16.3 per cent by market close to be worth $1.32 each
