Pacific Edge goes back to shareholders for another $20m

Thu, 21 Nov 2019

Pacific Edge has gone back to shareholders for another $20 million, which it said would tide it over until its cash burn ends. The bladder cancer test maker said it would raise $7 million at 15 cents per share in a placement to institutional investors and customers of local brokers, which was fully underwritten by Forsyth Barr and Jarden. That's a discount to the 16.5 cents the shares closed at yesterday. Trading was halted for the placement. Pacific Edge said it would then raise a further $13 million in a 1-for-4.25 pro-rata renounce...

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