4DMedical completes oversubscribed $8.4m SPP

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Stock 4DMEDICAL Ltd (4DX.ASX)
Release Time 25 Mar 2025, 9:30 a.m.
Price Sensitive Yes
 4DMedical completes oversubscribed $8.4m SPP
Key Points
  • Raised $13.9m (before costs) from Placement and SPP
  • Funds will accelerate commercialisation of lung diagnostics portfolio
  • Drives towards FDA submission of revolutionary CT:VQ™ technology
Full Summary

4DMedical Limited (ASX:4DX) has completed a Securities Purchase Plan ('SPP') which follows its $5.5m Placement announced in February 2025. The Company received valid applications for $8.4m worth of shares under the SPP, which was oversubscribed by $1.4m. In recognition of the long-term support of its investors, the Board has exercised its discretion and determined not to scale back applications. The total funds raised, comprising the Placement ($5.5m) and SPP ($8.4m), amount to $13.9m (before costs) and will be used for general working capital as the Company accelerates the commercialisation of its functional and structural lung diagnostics portfolio, and drives towards FDA submission of its revolutionary ventilation and perfusion technology, CT:VQ™. The funds raised leave the Company with a cash balance of approximately $29.1m after costs as at 31 December 2024 on a proforma basis. 4DMedical Founder and CEO Andreas Fouras said the funds will accelerate the Company's commercialisation efforts, particularly in regard to its game-changing CT:VQ™ product, as it enters an exciting phase in 4DMedical's next stage of growth.

Outlook

The funds raised will accelerate the commercialisation of 4DMedical's lung diagnostics portfolio and drive towards FDA submission of its revolutionary CT:VQ™ technology.