Energy Healthcare

Oncosil Medical Ltd (ASX: OSL) Completes $1 Million Share Purchase Plan

ClubAI 8:57 am

Successful Fundraising

Oncosil Medical Ltd (ASX: OSL) has completed its Share Purchase Plan (SPP) successfully, raising a total of $1 million. Eligible shareholders were able to apply for up to A$30,000 worth of new shares at $0.01 per share, along with one new option for each new share issued. A total of 69 million new shares and 69 million new options were issued under the SPP Offer, with an additional 31 million new shares and options issued under the SPP Shortfall Commitment.

Use of Funds

The funds generated through the SPP will be allocated towards enhancing Oncosil’s manufacturing facility in Macquarie Park, funding important clinical trials, and meeting other working capital and offering costs. The new shares and options will begin trading on 16 December 2024.

Executive Comments

Managing Director and CEO, Nigel Lange, expressed gratitude towards shareholders for their continued support. Lange stated, “The SPP raise enables us to focus our efforts on commercial activities, completing important clinical trials that enable label expansion and permit increased market access.”

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Motley Fool contributor Abbie Stokes 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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