EBR Systems (ASX:EBR) Capital Raise Announcement

EBR Systems, Inc. (ASX:EBR) has announced a A$50.0 million capital raise to support the commercialisation and manufacturing scale up of its novel WiSER CRT system in anticipation of U.S. FDA approval in Q1 CY2025. The capital raise includes a fully underwritten institutional placement of approximately 45.6 million new CHESS Depositary Interests (New CDIs) at A$0.82 per New CDI and a fully underwritten 1 for - 20 accelerated non-renounceable pro-rata entitlement offer to existing securityholders to raise up to ~A$12.6 million at A$0.82 per New CDI.

Executive Commentary on Capital Raise

EBR Systems is pleased to announce the successful completion of a A$50 million capital raise, which will play a crucial role in supporting the commercialisation and manufacturing scale up of our WiSER CRT system. This capital will enable us to prepare for a 2025 launch, targeting an initial US market opportunity of $US3.6bn, subject to FDA approval. We are committed to executing our commercialisation strategy and driving initial adoption in high-volume US sites, ultimately leading to initial revenue in CY2025. With a proforma cash balance of US$88.1m / ~AUD$129.6m post completion of the Capital Raise, we are well positioned to achieve our strategic objectives and drive growth.

Summary of EBR Systems Capital Raise

EBR Systems (ASX:EBR) has successfully completed a A$50.0 million capital raise to support the commercialisation and manufacturing scale up of its novel WiSER CRT system in anticipation of U.S. FDA approval in Q1 CY2025. The company aims to prepare for a 2025 launch targeting an initial US market opportunity of $US3.6bn, subject to FDA approval. With a proforma cash balance of US$88.1m / ~AUD$129.6m post completion of the Capital Raise, EBR Systems is focused on executing its commercialisation strategy and driving initial adoption in high-volume US sites participating in the pivotal SOLVE-CRT clinical trial, leading to initial revenue in CY2025. The company's forward-looking statements emphasize the importance of the capital raise in achieving its strategic objectives and driving growth.