Rhinomed Target Overseas Sales and Store Rollout; Raises A$6.0 million via an institutional placement

Rhinomed Limited (ASX: RNO) raises A$6.0 million via an institutional placement at A$0.22 a share.

  • The equity placement of the company was supported by multiple new institutional investors and existing shareholders.
  • Capital raising to support new product rollout and substantial growth in sales and store rollout across the United States, Europe and Australia.
  • The placement price of A$0.22 a share marks an 8.3 per cent discount to the closing price of the company on 18 September 2019 and a discount of 6.6 per cent to the last 5-day VWAP.

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