OncoSil Medical secures $5.6M institutional capital

• OncoSil Medical secured $5.6 million in new capital from its three largest institutional shareholders.
• The deal boosts the company's pro-forma cash balance to $12.1 million ahead of upcoming trading.
• Proceeds will fund commercial launches in the US and Australia following regulatory approvals.

OncoSil Medical (ASX:OSL) has secured $5.6 million in total commitments through a share placement and the early exercise of listed options by three major institutional investors.

The funding structure includes a $4 million placement at $1 per share, which represents a 9.9% premium to the last closing price on Sept. 7.

"With both FDA and TGA approvals secured this year, this capital will support our transition into commercialisation in the United States and Australia," said OncoSil Medical Chairman Dr Thomas Duthy.

The transaction also comprises approximately $1.6 million raised through the exercise of 1.8 million listed options at $.090 per share, which lifts the company's total pro-forma cash and cash equivalents to $12.1 million.

The company stated that allotment of the new shares is expected on Sept. 10, with normal trading scheduled for Sept. 11.

Following the announcement, the OncoSil Medical share price was unchanged at $0.91.

Management indicated that the capital will primarily support the commercial rollout of its target radiation therapy device across the United States and Australian markets.

OncoSil Medical plans to deliver a G-BA-funded study, two additional European regulatory filings, and the commencement of Sydney manufacturing operations in the first half of fiscal year 2027.