OncoSil Medicals Capital Raising Initiative

OncoSil Medical Limited (ASX: OSL) has secured commitments for a capital raising totaling about AU$7.1 million. The initiative includes a placement to sophisticated investors raising approximately AU$1.48 million and a non-renounceable entitlement offer aiming for up to AU$5.65 million. Chairman Douglas Cubbin will subscribe AU$75,000 to the placement, pending shareholder approval.

Joint Lead Managers for the initiative are Forrest Capital Pty Ltd and McFarlane Cameron Pty Ltd, with the entitlement offer underwritten up to AU$2 million. The funds will primarily support commercialization efforts, regulatory approvals, clinical trials, manufacturing, and working capital. Shareholders will vote on issuing options under the placement. The entitlement offer invites eligible shareholders to participate at the same offer price. Completion of the placement is expected on March 26, 2024.

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