Rhythm Biosciences Raises $4.3m via rights issue
- Healthcare stock Rhythm Biosciences (RHY) successfully completes its rights issue and raises $4.3 million
- The issue was strongly oversubscribed with the company receiving subscriptions totalling $12.05 million
- Additionally, it was cornerstone by respected investor John Hancock who commented on the placement
- Due to the strong support, Rhythm will undertake a small, heavily scaled back placement to sophisticated and other investors to raise $1.27 million
- Rhythm will use the money to accelerate and expand its development and commercialisation plans
- Shares in Rhythm are up 5.31 per cent and are trading at $1.19 at 2:10 pm AEST
