Structural Monitoring Systems: Raises $4.9m for commercialisation strategy

Structural Monitoring Systems Raises $4.9m for commercialisation strategy

• Structural Monitoring Systems (SMN) raises $4.9 million through an entitlement offer to fund its commercialisation strategy
• The company will issue a total 5.46 million new shares at 90 cents each
• Participants will receive one attaching option for every two new shares subscribed for, exercisable at $1.20 each and expiring in two years
• The company was originally seeking to raise $9.2 million and intends to allocate the shortfall
• Shares have ended the day a slight 0.58 per cent in the red at 86 cents each