Memphasys completes fundraising initiative

Memphasys (ASX:MEM) has finalized its Share Purchase Plan and Placement Offer, raising $1.857 million. The funds aim to bolster ongoing and future projects in reproductive biotechnology. The initiative allowed eligible shareholders to acquire shares at a discount, with an option for additional fundraising through a Top Up Offer.

Memphasys' strategic fundraising efforts

Memphasys Limited has raised $1.857 million through a Share Purchase Plan and Placement Offer, successfully engaging its shareholders. This initiative is part of Memphasys' strategy to enhance its capital base for current and future projects, particularly focusing on the development of its flagship product, the Felix System. The company has also set a Top Up Offer to potentially raise an additional $1 million. Memphasys remains committed to driving advancements in reproductive biotechnology, aiming to improve artificial reproduction processes.

Executive commentary on successful fundraising

We are pleased with the strong support shown by our shareholders, which reflects confidence in Memphasys' growth strategy and the potential of our reproductive biotechnology products.