- Health technology company Medibio (MEB) plans to raise up to $3.5 million through a capital raise and share purchase plan
- The company has received commitments for a $3 million placement of around 333.3 million new fully paid ordinary shares
- Medibio will offer investors one free attaching option for every four new shares issued at 1.5 cents per option
- Medibio will also conduct a $500,000 share purchase plan, which expected to fully underwritten
- Proceeds will fund a depressive burden trial, MEBsleep and ilumen product commercialisation activities and consumer app development
- Medibio is up 11.11 per cent and trading at 1 cent per share
