CurveBeam AI secures $5M capital placement

• CurveBeam AI secured a $1 million share purchase plan.
• The placement shares are priced at $0.02, representing an 11.1% premium to the recent closing price.
• The company stated that the capital will fund working capital and its China market launch.

CurveBeam AI (ASX:CVB) has secured a $1 million share purchase plan.

The placement price of $0.02 represents an 11.1% premium to the July 3 closing price.

Company directors Greg Brown and Arun Singh contributed a combined $2.4 million to the capital raising.

Director Arun Singh also advanced $2.1 million to the company to maintain normal trading operations.

Following the announcement, the CurveBeam AI share price was up at $0.019.

The business stated that net proceeds will fund sales, research, and its China market launch.

The company develops point-of-care specialised medical imaging equipment and AI-enabled clinical software.