Medical Developments International Ltd (ASX: $MVP) has dispatched the Retail Offer Booklet to eligible retail shareholders, detailing the 1 for 7.35 fully underwritten pro-rata accelerated non-renounceable entitlement offer of new fully paid ordinary shares in MVP. The Retail Entitlement Offer opens on 3 August 2024 and is expected to close on 22 August 2024 at an offer price of A$0.38 per new share, representing discounts to the last close price, 5-day VWAP, and TERP. The offer is non-renounceable and fully underwritten by Bell Potter Securities Limited.
The Retail Entitlement Offer provides an opportunity for eligible retail shareholders to participate in MVP's growth initiatives and strategic priorities. The offer is fully underwritten, demonstrating confidence in the company's prospects. Shareholders are encouraged to carefully consider the offer details and the potential impact on the company's capital structure and control. We believe this offer will support our continued efforts to accelerate the penetration of our key product, Penthrox, in both domestic and international markets.
Medical Developments International Ltd (MVP) has dispatched the Retail Offer Booklet to eligible retail shareholders, outlining the details of the pro-rata entitlement offer. The offer, priced at A$0.38 per new share, is fully underwritten by Bell Potter Securities Limited and aims to support the company's strategic priorities and growth initiatives. MVP's key product, Penthrox, has shown positive outcomes and the company anticipates positive momentum in margins and earnings. The announcement also highlights the risks associated with the investment and provides insights into the company's financial performance and underwriting arrangements. Shareholders are advised to carefully consider the offer and consult professional advisers before making any investment decisions.