Promisia has successfully raised the minimum of $3 million through its share purchase plan and placement capital raising offer.
The healthcare company has entered into an agreement with Asset Management for a $3m placement, satisfying the minimum condition of the offer.
As part of the agreement, Promisia will seek shareholder and warrant holder approval to reduce the exercise price of the warrants issued under the offer, as well as issue additional warrants to subscribers.
The warrants variation is subject to approvals and will be discussed at Promisia's 2024 annual meeting.
Shareholders have been given the option to participate in the share purchase plan until August 2, 2024.
Promisia also announced plans for a 500 for 1 share consolidation and a review of its board composition.
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