PolyNovo Launches placement and SPP to accelerate growth
- PolyNovo (PNV) receives firm commitments from institutional investors to raise $30 million for its plans to accelerate growth in the US and global markets
- The placement will see the issue of approximately 15.8 million shares at $1.90 per share, which is scheduled to settle on November 28
- Proceeds from the raise will go towards a sales team, expansion, research and development, as well as a new facility for its NovoSorb product
- The platform also aims to raise a further $17 millin through a share purchase plan which will be open from November 30 until December 13
- Shares in the company are down 8.61 per cent, trading at $1.91 as of 2:59 pm AEDT
