By Devika Patel
Knoxville, Tenn., Aug. 11 - Bone Medical Ltd. said it raised A$1.04 million in a private placement of stock.
The company sold shares at A$0.25 apiece.
The total capital raised includes the contribution from Proxima Concepts, which converted its $250,000 in outstanding obligations, and a A$50,000 participation by recently appointed chairman Leif Helth Jensen.
Proceeds will be used for working capital and to support the company's commercialization of biopharmaceutical projects.
Bone Medical is a Bentley, Western Australia, biopharmaceutical company focused on the treatment of bone disease.
| Issuer: | Bone Medical Ltd.
|
| Issue: | Stock
|
| Amount: | A$1.04 million
|
| Price: | A$0.25
|
| Warrants: | No
|
| Settlement date: | Aug. 11
|
| Stock symbol: | Australia: BNE
|
| Stock price: | A$0.26 at close Aug. 11
|
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