Optiscan Imaging Limited (ASX:OIL) Announces Entitlement Issue to Raise $17.75 Million
Offer Details
Optiscan Imaging Limited has announced a pro-rata renounceable entitlement issue of one Share for every four Shares held. The issue price is set at $0.085 per Share, aiming to raise up to approximately $17,750,992 before costs. The offer is fully underwritten by Peters Investments Pty Ltd.
Purpose of Funds
The funds raised will be allocated towards necessary clinical studies, testing, and certification of clinical medical devices, submission of documentation for US regulatory approvals, development of flexible endomicroscopes, preparation of commercialisation plans, and working capital.
Underwriting Agreement
Peters Investments Pty Ltd has fully underwritten the offer, committing to subscribe for any shortfall in the subscription. This arrangement ensures the maximum potential shareholding of Peters Investments could reach 38.84%, subject to the uptake of entitlements by other shareholders.
Shareholders and Dilution
Existing shareholders are encouraged to take up their entitlements to avoid dilution of their holdings by approximately 20%. Significant shareholders include Peters Investments Pty Ltd with a current interest of 28.23% and Orchid Capital Investments Pte Ltd with 18.73%. Post-offer, the total shares on issue are expected to increase from 835,340,803 to 1,044,176,004.
Regulatory Compliance
The entitlement issue complies with the Corporations Act and ASX Listing Rules, ensuring proper disclosure and adherence to regulatory standards. Applications for shares must be made using the Entitlement and Acceptance Form available on the company’s website.
Offer Timetable
The offer opens on September 5, 2025, and will close on September 16, 2025. Shares are expected to be quoted on ASX on September 24, 2025. The Board may extend the closing date if necessary.
Risk Factors
Investors are advised that the shares offered are highly speculative, with risks including potential dilution, control by major shareholders, and the uncertain success of the company’s R&D projects. Detailed risk factors are outlined in the prospectus.
Motley Fool contributor Kiarra Jackson has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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