4DMedical Limited (ASX:4DX) Completes Oversubscribed $8.4m SPP
Capital Raising
4DMedical has completed an oversubscribed Securities Purchase Plan (SPP), receiving $8.4m in share applications, exceeding the targeted $7.0m. A total of 23,342,943 New Shares were issued at $0.36 each.
Financial Position
The combined Placement and SPP raised $13.9m before costs, increasing the company’s cash balance to approximately $29.1m after costs as of 31 December 2024. Funds will support the commercialisation of the lung diagnostics portfolio and FDA submission of CT:VQ™.
Executive Comments
CEO Andreas Fouras stated, “I wish to personally thank our shareholders for supporting this SPP. Funds raised from the Placement and SPP, and expected funds to be raised from the exercise of two option tranches, will accelerate our commercialisation efforts, particularly in regard to our game-changing CT:VQ™ product. We’re entering an exciting phase in 4DMedical’s next stage of growth, and we look forward to delivering value for shareholders and world-class lung diagnostic tools for large scale access.”
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