EBR Systems institutional placement and entitlement offer completion

EBR Systems, Inc. (ASX:EBR) has successfully completed its institutional placement and accelerated institutional entitlement offer, raising approximately A$45.8 million to support the commercialization and manufacturing scale up of EBR's novel WiSE® CRT system in anticipation of U.S. FDA approval in Q1 CY2025. The completion of the Institutional Placement and Accelerated Institutional Entitlement Offer will now enable EBR to focus on executing its commercialization strategy and, subject to FDA approval, drive initial adoption in high-volume US sites participating in the pivotal SOLVE-CRT clinical trial, leading to initial revenue in CY2025.

President and CEO, John McCutcheon's statement on the completion of institutional placement and entitlement offer

We are pleased to have closed the A$45.8m institutional component of the capital raise, which was fully subscribed for by a range of new and existing investors. The Company can now receive a further A$4.2m from the fully underwritten retail component Entitlement Offer. This strengthens the Company's cash position and allows the Company to focus on executing its commercialization strategy and, subject to FDA approval, driving initial adoption in high-volume US sites participating in the pivotal SOLVE-CRT clinical trial, leading to initial revenue in CY2025. We would like to thank our current securityholders for their continued support, and we are pleased to welcome the new securityholders to the register.

EBR Systems completion of institutional placement and entitlement offer summary

EBR Systems, Inc. (ASX:EBR) has successfully completed the institutional placement and accelerated institutional entitlement offer, raising approximately A$45.8 million. This capital raise will support the commercialization and manufacturing scale up of EBR's novel WiSE® CRT system in anticipation of U.S. FDA approval in Q1 CY2025. The Company is preparing for a 2025 launch targeting an initial US market opportunity of $US3.6bn, subject to FDA approval. EBR intends on executing its commercialization strategy and, subject to FDA approval, driving initial adoption in high-volume US sites participating in the pivotal SOLVE-CRT clinical trial, leading to initial revenue in CY2025. The New CDIs subscribed for under the Institutional Placement and the Institutional Entitlement Offer are expected to be settled on Wednesday, 25 September 2024, and be issued and commence trading on ASX, on Thursday, 26 September 2024.