Resonance Health secures $6M share placement
Key points
- Resonance Health obtained firm commitments to raise $6 million through an oversubscribed placement of roughly 83.3 million new shares.
- The issue price of $0.072 per share reflects a 6.4% discount to the company's five-day volume-weighted average price.
- Capital raised will fund three growth programmes over 24 months, supported by expanding clinical trials.
Resonance Health (ASX:RHT) secured $6 million in firm commitments via an oversubscribed share placement.
The issue price of 7.2 cents per share represents a 6.4% discount to the 5-day volume-weighted average price and a 12.2% discount to the last closing price of 8.2 cents on Oct. 22.
The transaction forms part of the company's strategy of institutionalising its share register to broaden research coverage and improve liquidity.
Secondary details show the capital raise includes a $1.4 million working capital buffer for contract timing and potential acquisitions.
The business stated that the fresh funding will fully support its primary growth initiatives over the next 24 months.
Resonance Health’s CEO & Managing Director Andrew Harrison said, "The placement strengthens an already profitable, cash-generative business, more than triples our net cash, and fully funds our three growth programmes."
Following the announcement, the Resonance Health share price was unchanged at $0.074.
The capital injection builds on a profitable FY26 performance where revenue rose 42% to $15.8 million.
The company also generated statutory net profit after tax of $1.5 million alongside positive operating cash flow across all four quarters.
