SomnoMed reinstated to trading following announcement

SomnoMed Limited (ASX: $SOM) has been reinstated to trading after the release of an announcement regarding the results of the institutional component of an accelerated non-renounceable entitlement offer. This follows SOM's prior announcement on Tuesday 9 April 2024 of a trading update and changes to its earnings guidance for the financial year ending 30 June 2024.

Executive commentary on reinstatement and offer results

We are pleased to announce the reinstatement of SomnoMed Limited to trading following the release of the institutional offer results. The response from the institutional component of the accelerated non-renounceable entitlement offer has been positive, and we are encouraged by the support shown by our institutional investors. Additionally, the changes to our earnings guidance reflect our commitment to transparency and our efforts to provide accurate and timely information to our stakeholders.

Summary of reinstatement and outlook

SomnoMed Limited (ASX: $SOM) has successfully reinstated trading following the release of the institutional offer results and the update on earnings guidance. The positive response from institutional investors indicates confidence in the company's strategic direction. Looking ahead, SomnoMed remains focused on delivering value to its shareholders and maintaining transparency in its communications. The changes to earnings guidance demonstrate the company's proactive approach to managing its financial performance and providing stakeholders with clear and reliable information.