Promisia raises $1.35m from rights issue amid ongoing MedSafe dispute

Wed, 02 Jan 2019

By Jenny Ruth Jan. 3 (BusinessDesk) - Dietary supplements company Promisia Integrative has raised $1.35 million from its 3-for-1 rights issue, well above the underwritten $1.05 million amount, despite the company making no bones of how risky a proposition it is. It’s still short of the $1.67 million sought but does provide Promisia with some much-needed working capital. The amount raised includes the conversion of $800,000 in debt owed to its largest shareholder, director Tom Brankin’s family trust, which also underwrote the issue, but...

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