Medical Developments International: Launches $30m capital raise

Medical Developments International Launches $30m capital raise

• Medical Developments International (MVP) launches a $30 million capital raise to execute further growth
• The company will aim to raise $15 million from a placement and $15 million from a one-for-9.5 non-renounceable entitlement offer
• The new shares will be offered at $2 each, representing a 16.7 per cent discount from the last closing price on August 3 of $2.40
• The company plans to use the funds for its direct sales strategy in Europe, expand its Australian business, and invest in business capability for global growth
• Shares are trading flat today at $2.40 each at 2:21 pm AEST