HeraMED Limited completes AU$4.0 million private placement

HeraMED Limited (ASX: HMD) announced that it has successfully raised AU$4.0 million via a private placement. The placement comprised the issue of approx. 30.77 million fully paid ordinary shares at an issue price of AU$0.13 per new share, and the issue price represents a 13.3% discount to the last closing price before the company went into a trading halt pre-market on Monday, 22 August. The placement comprised the issue of one unlisted attaching option for every three new Shares issued at a strike price of AU$0.22 per share and expiry date of 28 April 2024.

The fund raised via the placement will be used to support:

• Working capital requirement and a planned inventory build
• additional development work on the company’s technology platform
• Costs of the offer

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