Nova Eye Medical (ASX:EYE) has received binding commitments for a $8M share placement at $0.18 per share.
Nova Eye Medical says the funds raised will be used for the expansion of the its Glaucoma Surgical Devices in the USA, Europe and China.
The company has a sales headquarters based in Fremont, California and Manufacturing facilities located in Fremont, California and Dunedin, New Zealand.
The placement was conducted by Taylor Collison Limited, E&P Corporate Advisory, and MST Financial Services as joint lead managers and is expected to settle on March 7.