Australia's 4D Medical to see worst day since mid-April on discounted raise

4DMedical

10/12/2023 23:41

** Shares of 4DMedical  4DX.AX  slump as much as 15.7% to
A$0.805, set to see their worst day since April 13 - if losses
hold 
    ** The medical tech co says it has completed a capital
raising of A$35 million ($23.03 million) to partly fund the
acquisition of a U.S.-based medical technology company Imbio
    ** Issue price of A$0.79 per share is at a  17.3% discount
to the last closing price on Dec 6 
    ** Co says it signed deal to buy Imbio for ~US$25 million to
expand its product portfolio including latter's four FDA-cleared
products
    ** Stock hits lowest since Nov 24 
    ** Stock has risen more than doubled this year as of last
close


($1 = 1.5198 Australian dollars)

 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))