SomnoMed Limited's voluntary suspension and FY24 guidance update

SomnoMed Limited (ASX: $SOM) has requested a continuation of the current voluntary suspension of its securities as it explores future funding options and proposes an equity capital raising. The company also intends to finalize a trading update and a downgrade to its FY24 guidance. SomnoMed expects to announce the proposed equity capital raising and revised FY24 guidance on Tuesday 9 April 2024.

Executive Commentary

SomnoMed Limited has requested a voluntary suspension of its securities as part of its strategy to explore future funding options and propose an equity capital raising. The company aims to finalize a trading update and a downgrade to its FY24 guidance, with the expectation of announcing the proposed equity capital raising and revised FY24 guidance on Tuesday 9 April 2024.

Summary of SomnoMed's voluntary suspension and outlook

SomnoMed Limited (ASX: $SOM) has requested a voluntary suspension of its securities to facilitate the exploration of future funding options and the proposal of an equity capital raising. The company also intends to finalize a trading update and a downgrade to its FY24 guidance. SomnoMed expects to announce the proposed equity capital raising and revised FY24 guidance on Tuesday 9 April 2024. The company's outlook includes the pursuit of orderly conduct for the institutional component of any Entitlement Offer and the anticipation of normal trading resuming on Wednesday 10 April 2024, or upon the release of an announcement regarding the outcome of the institutional component of any Entitlement Offer.