Nova Eye Medical Completes AU$6.6 million Placement

Nova Eye Medical Limited (ASX: EYE) has secured firm commitments for AU$ 6.6 million in capital raised through a two-tranche placement of fully paid ordinary shares at AU$ 0.12 per share. This placement, strongly supported by institutional and sophisticated investors, represents a strategic move to strengthen the company’s financial position and accelerate growth. The offer price reflects a significant discount on recent market prices, demonstrating investor confidence in Nova Eye’s future.

The funds raised will support Nova Eye’s expansion efforts, particularly in advancing its innovative glaucoma treatment technologies. Tranche One, raising approximately AU$4.1 million, was completed under existing placement capacity, while Tranche Two, subject to shareholder approval, will contribute an additional AU$2.5 million. A major shareholder, Australian Ethical Investments, has committed AU$1.1 million to the second tranche, underscoring long-term belief in the company’s potential. With these investments, Nova Eye Medical is well-positioned to enhance its market presence.

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