Oncosil Medical's capital raising initiative

Oncosil Medical (ASX:OSL) has announced a Share Purchase Plan (SPP) to raise approximately $1 million before offer costs. The plan will offer up to 100 million new shares at $0.01 per share, each with an accompanying option. This initiative aims to fund the company's manufacturing facility, ongoing clinical trials, and other working capital requirements. The offer is open to shareholders in Australia, New Zealand, Hong Kong, and Singapore.

Comprehensive overview of Oncosil's SPP

Oncosil Medical (ASX:OSL) has launched a Share Purchase Plan to raise $1 million, offering new shares to eligible shareholders at $0.01 each, along with an accompanying option per share. The raised funds are intended to support the development of their manufacturing facility, ongoing clinical trials, and other financial needs. The offer is part of a broader $7 million placement involving institutional and sophisticated investors, managed by Bell Potter Securities. Shareholders in Australia, New Zealand, Hong Kong, and Singapore are eligible to participate, with a minimum subscription of $2,500 and a maximum of $30,000. The offer is speculative and carries inherent risks typical of biotech investments. Oncosil aims to use the capital to advance its strategic goals and navigate regulatory approvals for product commercialization in pending markets.

Executive insights on Oncosil Medical's SPP

The funds raised through this SPP will enable Oncosil to continue its strategic objectives, including the build-out of our Macquarie Park manufacturing facility and support our ongoing clinical trials.