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Somnomed Limited ( (AU:SOM) ) just unveiled an announcement.
SomnoMed Limited announced the successful completion of a block trade involving 16,071,430 shares at $0.70 per share on the ASX. This transaction included shares from the SomnoMed employee share trust and TDM Growth Partners, with TDM’s stake in SomnoMed reducing from 31.3% to 25.0%. The sale aimed to diversify SomnoMed’s share register and improve liquidity without diluting existing shareholders, attracting participation from new and existing institutional and retail shareholders.
The most recent analyst rating on (AU:SOM) stock is a Buy with a A$0.99 price target. To see the full list of analyst forecasts on Somnomed Limited stock, see the AU:SOM Stock Forecast page.
More about Somnomed Limited
SomnoMed is a public company specializing in treatment solutions for sleep-related breathing disorders such as obstructive sleep apnea, snoring, and bruxism. The company has commercialized its products based on extensive clinical research, leading to its SomnoDent® becoming a state-of-the-art, clinically proven medical oral appliance therapy used by over 1 million patients in more than 20 countries.
Average Trading Volume: 64,256
Technical Sentiment Signal: Hold
Current Market Cap: A$159.3M
For detailed information about SOM stock, go to TipRanks’ Stock Analysis page.