Australia's dorsaVi falls on discounted placement
24/07/2024 04:33
** Shares of dorsaVi DVL.AX fall as much as 7.7% to
A$0.012, their lowest levels since July 11
** The motion analysis device maker says it received firm
commitments to raise A$1.1 mln ($725,780) via placement
** Issue price of A$0.011 per share represents a 15.4%
discount to co's last close
** Co says proceeds raised will be used to accelerate the
commercialisation of its AI-enhanced products in the U.S.
market, among others
** About 1.6 mln shares change hands, 4.5 times the 30-day
average volume of shares
** Stock has risen 8.3% this year, as of last close
($1 = 1.5156 Australian dollars)
(Reporting by Sherin Sunny in Bengaluru)
((Sherin.Sunny@thomsonreuters.com))