Memphasys Limited (ASX:MEM) Capital Raising Announcement

Australian-based bio-separations and reproductive biotechnology company Memphasys Limited (ASX:MEM) has announced a capital raising of A$2.0 million through a Placement and Share Purchase Plan (SPP). The Placement, which has received strong support from existing shareholders and new sophisticated and professional investors, aims to raise A$1.0 million. Additionally, the SPP will provide eligible shareholders the opportunity to raise up to a further A$1.0 million. The funds raised will be utilized for finalizing the Felix™ System clinical trial, progressing an equine fertility study, and conducting a study on oxidative stress measurement system.

Executive Commentary on Capital Raising

We believe that by securing these funds, together with the recent funds provided by Andrew Goodall and the conditional extension of the Peters Investments Convertible Notes, provides the Company with the necessary balance sheet comfort to reach tangible milestones that will unlock strategic partner and commercial opportunities for the Company. I would like to personally thank our shareholders for their commitment to this journey.

Summary of Capital Raising and Future Outlook

Memphasys Limited (ASX:MEM) has successfully raised A$2.0 million through a Placement and SPP, with the Placement strongly supported by existing shareholders and new sophisticated and professional investors. The funds raised will be used to finalize the Felix™ System clinical trial, progress an equine fertility study, and conduct a study on oxidative stress measurement system. These initiatives are expected to advance strategic partner discussions and wider commercial activities. The completion of the Felix clinical trial and equine study are anticipated to be key catalysts in unlocking strategic partner and commercial opportunities for the Company. Memphasys also plans to seek shareholder approval for the extension of Peters Investments Convertible Notes at its Annual General Meeting, to be held in late November 2024.