Admedus Ltd (ASX:AHZ) has issued $200,000 worth of shares to three of its board members as part of the recent capital raising priced at 30 cents.
The share issuance required shareholder approval which was received at the extraordinary general meeting held yesterday.
Furthermore, a former director of the board Matthew Ratty was issued $500,000 worth of shares.
READ: Admedus raises $2.76 million from share purchase plan
Chairman John Seaberg purchased $50,000.10 of shares, president and CEO Wayne Paterson purchased $50,000.10, and non-executive director Simon Buckingham purchased $99,999.90.
READ: Admedus progressing towards securing $18 million investment for immunotherapies division
Admedus recently made progress towards securing a long-term funding arrangement for Admedus Vaccines Pty Ltd with Hong Kong investor Star Bright Holding Ltd by executing a Memorandum of Understanding (MoU).
In April, Admedus Vaccines entered into a Letter of Intent with Star Bright who paid a non-refundable break-fee of $500,000 to finalise the terms of an investment of $18 million.
The $18 million investment will be retained in the immunotherapies business to support ongoing research and development, as well as operational activities.