Australia's Next Science hits record low on discounted placement

Next Science

24/02/2022 02:11

** Shares of Next Science Ltd  NXS.AX  sink as much as 11.7%
to an all-time low of A$0.910
    ** Medical tech co raises A$10 mln ($7.22 mln) via placement
to support commercial rollout and further clinical programme
development  urn:newsml:reuters.com:*:nASX7hWSFp
    ** Placement issue price of A$0.90 represents a 12.6%
discount to stock's last closing price 
    ** Co will also raise up to A$5 mln via a share purchase
programme at the same price as placement
    ** Shares mark their steepest intraday percentage drop since
May 2020
    ** As of last close, stock down 17.3% this year

($1 = 1.3858 Australian dollars)

 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))