Opyl Limited (ASX: $OPL) completes successful placement and launches entitlement offer

Opyl Limited (ASX: $OPL) has successfully completed a $576,000 placement at an offer price of $0.03 per share from professional and sophisticated investors. Additionally, the company is offering a 2 for 5 non-renounceable rights issue at $0.03 per share to eligible shareholders, aiming to raise up to $1.43m. The proceeds from both the placement and rights issue will be utilized to advance the commercialization of Opyl's recently launched predictive analytics and clinical trial insights platform, TrialKey.

Executive Commentary on Opyl's Placement and Entitlement Offer

We are thrilled to announce the successful completion of our placement, a momentous stride forward for Opyl and a testament to the resounding confidence our investors have in our pioneering vision. The overwhelming support from both new and existing investors is recognition of the immense potential of TrialKey's transformative AI technology. The ability to predict the outcome of a clinical trial with over 88% accuracy is game changing. - Saurabh Jain, CEO of Opyl

Summary of Opyl's Placement and Entitlement Offer

Opyl Limited (ASX: $OPL) has successfully completed a $576,000 placement and launched a non-renounceable rights issue offer at $0.03 per share to eligible shareholders, aiming to raise up to $1.43m. The company has received advanced commitments for $635,000 in a combination of rights acceptances in advance and shortfall commitments prior to the Entitlement Offering opening date. The proceeds will primarily be used for sales, marketing, support initiatives for TrialKey's commercialization strategy, targeted technology development for the TrialKey platform, and working capital. Opyl is delighted to welcome new investors onto the register and is equally pleased to have received support from existing shareholders aligned to the compelling market opportunity presented by TrialKey and Opyl's unique positioning to execute on its commercialization strategy.