Listed Companies

Pacific Edge goes back to shareholders for another $20m

Paul McBeth
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...

Try free for 10 days

Trustworthy, balanced journalism every day from our growing team of New Zealand business reporters and commentators, plus more in our weekend magazine section, The Life.

Instant News Alerts based on keywords you choose or journalists you follow
Our Daily Digest of all stories at 6am, midday or 6pm
A custom library of your saved stories
An industry-leading search engine
Try for 10 days without paying and if you’re not convinced cancel with just two clicks.

Support quality New Zealand journalism by subscribing today.

Find out more

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Listed Companies

Infratil's next play: Australian medical infrastructure

Pattrick Smellie | Mon, 26 Oct 2020

Infratil identifies 'highly cash generative', non-discretionary healthcare infrastructure as a new sector where it can build a profitable business at scale.

Infrastructure

Bureaucratic own goal at Tui oil field a red flag about regulatory problems

Gavin Evans | Mon, 26 Oct 2020

When a company is prepared to write off a US$21 million vessel and hand it to liquidators – rather than deal further with New Zealand regulators – we should be concerned.

Listed Companies

Taking one for the team: Which top businesspeople took a paycut?

Andy Fyers | Mon, 26 Oct 2020

Big director and CEO pay cuts were common among NZX-listed companies, although every firm's circumstances were different.

Pacific Edge goes back to shareholders for another $20m

Not convinced yet?

Your company has a subscription

Team