Control Bionics Ltd. (AU:CBL) has released an update.
Control Bionics Ltd, a medical device company, has announced the successful completion of share placement agreements that will raise $1.15 million in new capital, pending shareholder approval at the upcoming AGM. The placement entails issuing over 16 million new shares at $0.07 each, along with options, to support software development, product rollout, and working capital. CEO Jeremy Steele expressed satisfaction with the investment support, which aims to fortify the company’s balance sheet and accelerate growth.
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