Emyria Limited (ASX: EMD) Secures $2.525M in Funding
Funding Details
Emyria Limited (ASX: EMD) has successfully accepted firm bids totalling $2.525 million from sophisticated investors. The funds will support the expansion of Emyria’s treatment programs for significant mental health issues, particularly Post-Traumatic Stress Disorder (PTSD) and treatment-resistant depression.
Use of Proceeds
The raised capital is earmarked for the growth of Emyria’s innovative treatment services at its Empax Centre. The company has noted that PTSD and treatment-resistant depression impact over one million Australians, highlighting the urgent need for expanded mental health solutions.
Chairman’s Comments
Greg Hutchinson, Chairman of Emyria, stated, “As a leader in world-class mental health programs, Emyria is uniquely positioned, and obligated, to address this challenge.” He emphasized the commitment to improving access to innovative treatments for Australians suffering from these conditions.
Placement Structure
The placement includes the issue of approximately 72,142,858 shares at $0.035 each, reflecting a 10.26% discount to the last traded price. Funds will be raised in two tranches, with the first tranche expected to settle around 9 December 2024. The second tranche, subject to shareholder approval, is planned for early 2025.
Future Outlook
Emyria is actively exploring sustainable funding options with major health funds to ensure the long-term viability of its mental health treatment offerings. The company is well-positioned to scale its operations and enhance patient access to critical mental health services in a growing market.
Motley Fool contributor Lianne Eastty 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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