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HeraMED completes AU$4.0m

  • HeraMED successfully raises $4.0 million (before costs) in a private placement to sophisticated and professional investors

  • The raising was priced at $0.13 per share, a 13.3% discount to HeraMED’s last closing price before it went into trading halt ahead of details of the issue being released.

  • Investors participating in the raising will also be allocated an attaching option on a 1-for-3 basis, which has a strike price of $0.22 per share1 .

  • The proceeds of the placement will be used to fund working capital purposes, further development work on the HeraMED platform and sales/marketing-related initiatives.

HeraMED is pleased to announce a successful private placement (the “Placement”) of $4.0 million (before costs) to sophisticated and professional investors.

The attractively priced raising comes with attaching options

HeraMED has raised $4.0 million in new capital via the issue of around ~30.77 million new ordinary shares, priced at $0.13 per share. The issue price is at a 13.3% discount to HeraMED’s last closing price before it went into trading halt pre-market on Monday 22 August, ahead of details of the Placement being announced to the market.

26,104,258 new shares will be issued under capacity available to HeraMED under ASX Listing Rule 7.1 (Tranche 1 Placement Shares) with the remaining 4,664,972 new shares being issued in tranche 2 (subject to HeraMED obtaining the necessary shareholder approvals) (Tranche 2 Placement Shares).

Every investor participating in the Placement will also be allocated an attaching unlisted option on a 1-for3 basis (subject to HeraMED obtaining the necessary shareholder approvals) (Attaching Options). These Attaching Options will have a strike price of $0.22 per share (which represents a circa 70% premium to the Placement price) and an expiry date of 28 April 2024. These Attaching Options will be unlisted, but it is the intention of HeraMED to apply for quotation of the options in due course, subject to satisfaction of the quotation requirements of the ASX Listing Rules1 .

The sole lead manager of this share issue is PAC Partners Securities Pty Ltd.

Proceeds from raising will fund additional R&D spend and sales/marketing initiatives The proceeds of the Placement will fund:

● Working capital purposes and a planned inventory build

● Further development work on the HeraMED technology platform

● Growth in staffing (in the Company’s US, Australia/NZ- and Israeli-based operations)

● Costs of the offer.

The additional capital will help HeraMED progress its now-well-underway commercialisation phase. It will fund important further development work on HeraMED’s medical technology platform. It will also finance an uplift in marketing initiatives, which will leverage off the strong results coming out of already-released trials and pilots that continue to indicate HeraCARE improves the standard of care and delivers increased efficiencies to healthcare providers. These demonstrated competitive advantages are a clear positive as HeraMED begins to penetrate its addressable markets both in Australia and overseas, with a growing number of early adopters starting to use the Company’s unique medical technology.

HeraMED CEO and Cofounder, Mr. David Groberman said:

“We are delighted with the level of support enjoyed by our just-completed private placement. The extra capital it has delivered to the Company provides the HeraMED team with the funding needed to materially progress our current development journey, which is now firmly within the early commercialisation phase as the list of HeraCARE early adopters continues to build. This growing client book has been underwritten by mounting evidence from trials and studies that our unique hybrid maternity care platform delivers marked improvements to patients’ prenatal and postpartum experience when compared to existing pregnancy monitoring methodologies.
We will be using the additional capital provided by the Placement to fund further development work and the delivery of additional enhancements to our medical technology platform now in the pipeline. It will also bankroll a strengthening of existing sales and marketing resources, in our quest to further grow HeraMED’s current list of quality partners.
We look forward to providing details on both these product enhancements and additional growth to our client list over coming months.”


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