Somnomed Limited (AU:SOM) has released an update.
SomnoMed Limited reported an 11% revenue increase to $22.5 million in Q3 FY24, despite manufacturing constraints, and maintained its revised annual guidance with expected cost savings from restructuring. The company completed a $22.6 million capital raise to clear debt and invest in manufacturing expansions, including a potential new facility, to meet growing product demand. The capital raise included a strongly supported institutional share offer, raising $5.8 million.
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