Australia's EBR Systems slides after discounted capital raise

EBR Systems

23/06/2023 02:59

** Shares of EBR Systems Inc  EBR.AX  fall as much as 5.1%
to A$0.930, on track for worst day since June 15 if gains hold 
    ** Medical device company announces A$35 mln ($23.57 mln)
capital raising; says proceeds will be used to support its
regulatory approval activities and preparation for commercial
launch
    ** The offer price of A$0.91 per chess depositary interest
represents a 7.1% discount to the last closing price of A$0.980
on June 21
    ** EBR was placed on a trading halt on June 20, pending
announcement on "proposed capital raising" 
    ** Stock hits lowest level since June 16
    ** Stock more than doubled this year as of last close



($1 = 1.4850 Australian dollars)

 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))