FinTechFunding

Medibio: Launches $1.4m placement, CEO resigns

Medibio Launches $1.4m placement, CEO resigns

  • Medibio (MEB) receives firm commitments to raise $1.4 million via placement to fund its US Food and Drug Administration (FDA) application and for working capital
  • The company will issue approximately 923.6 million shares at 0.15 cents over two tranches, with the offer of one free-attaching option for every one new share issued
  • Additionally, Claude Solitario has resigned as CEO and Managing Director to pursue other business interests, effective today
  • The search for a new CEO will commence shortly and the company confirms it will update the market in due course
  • Shares in the company are down 33.3 per cent, trading at 0.2 cents as of 1:51 pm AEST
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Steve Sam
Steve Sam
Steve Sam is a financial reporter, analyst, and commentator with a strong focus on banking technology, digital payments, and the future of financial services.

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