Australia's Optiscan Imaging slips on discounted capital raise

Optiscan Imaging

30/05/2023 03:04

** Shares of Optiscan Imaging Ltd  OIL.AX  dive as much as
12% to A$0.088 - seeing their worst day since March 2, if
current losses hold 
    ** Medical imaging tech firm says it has launched a
partially underwritten renounceable entitlement offer to raise
up to A$16.7 mln ($11.33 mln)
    ** Co says funds raised will be used for accelerating its
research and development project, specifically for both rigid
and flexible surgical applications, among others  
    ** Issue price of A$0.08 per share is at a 20% discount to
the last closing price on May 25 
    ** Stock flat this year, as of last close
($1 = 1.4743 Australian dollars)

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