Imricor Medical Systems (ASX: $IMR) completion of retail entitlement offer

Imricor Medical Systems, Inc. (ASX: $IMR) has successfully completed the retail component of its 1 for 7.5 pro-rata accelerated non-renounceable entitlement offer of new CHESS Depositary Interests (CDIs) at an issue price of A$0.45 per CDI. The Retail Entitlement Offer closed with valid applications received for 1,419,069 New Shares, including under the top-up facility. The total proceeds of the capital raising, including the Institutional Entitlement Offer and concurrent Placements, will amount to approximately A$8.639 million. The New CDIs are expected to commence trading on ASX on Thursday, 29 February 2024.

Imricor's Executive Commentary

The completion of the retail entitlement offer marks a significant milestone for Imricor Medical Systems. We are pleased with the response from eligible retail securityholders and the total proceeds of the capital raising. This achievement will further support our efforts to make a meaningful impact on patients, healthcare professionals, and healthcare facilities around the world by increasing the success rates and reducing the overall costs of cardiac catheter ablation procedures.

Summary of Imricor Medical Systems' announcement

Imricor Medical Systems (ASX: $IMR) has successfully completed the retail entitlement offer, raising approximately A$638,581. The New CDIs are expected to commence trading on ASX on Thursday, 29 February 2024. The company's focus on developing innovative MRI-compatible medical devices for cardiac catheter ablation procedures reflects its commitment to improving patient outcomes and reducing healthcare costs. The completion of this offer will provide the necessary financial support to pursue regulatory approvals and expand market reach, aligning with the company's goal of making a meaningful impact in the healthcare industry.