Overview of OncoSil Medical's recent announcement
OncoSil Medical Limited (ASX: $OSL) has successfully raised $5.3 million under its non-renounceable entitlement offer, allowing eligible shareholders to subscribe for 1 new share for every 2 shares held at the record date of 28 March 2024. The issue price for the new share was $0.005, and additional long-dated and short-dated options were also offered. The total raised under the placement and entitlement offer, including prior commitments, amounts to $6.8 million. The company plans to issue a total of 654,426,949 new shares and a significant number of long-dated and short-dated options as part of this offer.
Executive commentary on the entitlement offer
The company is pleased with the response from eligible shareholders in subscribing for the entitlement offer, raising $5.3 million. This funding will support our ongoing efforts in the development and commercialization of the OncoSil™ brachytherapy device, which is a critical component in the treatment of locally advanced unresectable pancreatic cancer. We appreciate the support from our shareholders and look forward to advancing our mission of providing innovative cancer treatment solutions
OncoSil Medical (ASX: $OSL) has successfully raised $5.3 million under its entitlement offer, with a total of $6.8 million raised including prior commitments. The company plans to issue a significant number of new shares, long-dated options, and short-dated options as part of this offer. The funding will further support the development and commercialization of the OncoSil™ brachytherapy device, which has already received breakthrough device designation in the European Union, United Kingdom, and United States for the treatment of locally advanced unresectable pancreatic cancer.
With the device already approved for sale in over 30 countries and initial commercial treatments underway, OncoSil Medical continues to progress in its mission to provide innovative cancer treatment solutions.
