Proactive Investors - Run By Investors For Investors

Cellmid closes share purchase plan after crossing target amount

The offer was at the same price as the recent share placement to sophisticated and institutional investors for $9 million.
Cellmid has approved the oversubscription

Cellmid Limited (ASX:CDY) has closed its share purchase plan (SPP) announced on July 31, 2018 with an offer price of 38 cents.

The company received applications to the value of $1,025,000 for the issuing of 2,697,377 shares, which is $25,000 over the maximum $1 million originally determined by the board.

Cellmid has approved the oversubscription and there will be no scale back of applications.

The SPP was offered at the same price as the share placement to sophisticated and institutional investors for $9 million, also announced on 31 July 2018.

READ: Cellmid raises $9 million for distribution and invites shareholders to invest $1 million

The funds raised under the SPP and the private placement will be used to drive growth in the consumer health business globally, specifically that of the flagship évolis® product range and the exclusive distribution agreement with Fillerina in Australia and New Zealand.

Cellmid chief executive officer Maria Halasz said: “We thank all participating shareholders and new investors for their support in the capital raising as we continue to advance distribution opportunities for our portfolio of high growth anti-aging consumer health products in major global markets”.


Cellmid recently commenced the instore launch of its anti-aging hair care range, évolis Professional, on August 31, 2018 in Neiman Marcus and Soft Surroundings stores across the U.S.

The in-store launches are being supported by major public relations and social media campaigns in addition to full-day experiential marketing events hosted by each store.

The theme for each of the 16 events will be built around the use of Cellmid’s proprietary évoliscope™ technology, which allows customers to assess their hair health.

View full CDY profile View Profile

Cellmid Ltd Timeline

Related Articles

young girl with allergy
April 29 2019
The sell-off that followed the recent disappointment of Allergy’s PQ Birch jab means now might be a good time to invest, according to City broker finnCap
June 11 2019
Oncimmune is a specialist in the field of immunodiagnostics
picture of a knee
May 21 2019
We take a closer look at Collagen Solutions, which received third-party validation of its business model in the form of outside investment from a blue-chip US agriculture company

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use