Orthocell (ASX:OCC), a company in the regenerative medicine field, has initiated a trading halt effective from October 24, 2024. This pause in trading is in anticipation of an important announcement concerning a proposed capital raising. The halt is set to last until the announcement is made or until normal trading resumes on October 28, 2024.
Orthocell Limited has paused trading of its securities to prepare for a significant capital raising announcement. The company, known for its regenerative medicine products, is focusing on expanding its market presence through new capital. Its product line includes the CelGroâ„¢ platform, Striate+â„¢, Remplirâ„¢, and SmrtGraftâ„¢, with various approvals across major markets. Orthocell is also advancing its tendon cell therapy for US market entry and is engaged in discussions to broaden its market reach. This capital raising is expected to align with Orthocell's strategic goals of growth and technological advancement.
We have adhered to the ASX Listing Rule 17.1 and are not cognizant of any reasons against the halt being granted.