Pacific Edge to raise $21.3M in deeply discounted offer in drive to cash flow breakeven

Tue, 10 Oct 2017

By Paul McBeth Oct. 11 (BusinessDesk) - Pacific Edge wants to raise $21.3 million in a deeply discounted rights issue, which it says will fund the cancer diagnostics firm's goal of breaking even on a cash flow basis in the March 2019 year. The Dunedin-based company will sell 66.6 million shares at 32 cents apiece in a one-for-six pro-rata rights offer, a 27 percent discount to the theoretical ex-rights price of 44 cents, it said in a statement. The deal is fully underwritten by lead manager First NZ Capital Securities. The funds will...

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