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Pacific Edge Limited (PEB) is a NZ based company and is looking to raise capital and list on the ASX, with the code PEB. As a cancer diagnostics company, it specialises in discovering, building and commercialising innovative cancer diagnostic tests that can contribute to a clinically meaningful difference in the detection and management of cancer.




ASX Listing date... 23 September 2021 #

Company contact details ... https://www.pacificedgedx.com/


Principal Activities ... Development and deployment of specialist cancer diagnostics tools


Issue Price ... NZD 1.20

Issue Type ... Ordinary Fully Paid Shares

Security code ... PEB

Capital to be Raised ... $70,000,000

Expected offer close date ... 10 September 2021

Underwriter.... Bell Potter Securities Limited, Jarden Australia Pty Ltd, Forsyth Barr Limited (Joint Lead Managers)

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Placement made today. Settlement next week. Company not cracking on who the new holders are. If they are US venture capital funds then I would expect to see the price collapse before too long so they can up their stake.


Sabby, RA Capital and every other parasite Citi ever spawned come to mind.


Let's hope we get some transparency.

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Cancer diagnostics business, Pacific Edge Limited (NZX/ASX: PEB) is pleased to announce it has successfully raised NZ$80m (A$77.51) through its Placement.


The Placement was very well subscribed at the price determined in the bookbuild of NZ$1.35 (A$1.31) per share, resulting in Pacific Edge increasing the size of the Placement from NZ$60 million (A$58.1 million) to NZ$80 million (A$77.5 million). The issue price of NZ$1.35 for the Placement was at the top of the bookbuild range and represents a 5.5% discount to the 20 trading day VWAP.


The Placement attract[ed] bids well in excess of the up-sized NZ$80 million (A$77.5 million) total offer amount. Adopting a fair and balanced allocation policy, existing institutions bidding for more than their pro rata entitlements, were allocated their pro rata allocations, and some new long term international funds have entered the share register.


Chairman of Pacific Edge, Chris Gallaher, said: We are very pleased with the demand shown for the Placement which we see as a strong endorsement of our strategy and growth plans. We are very pleased with the strong support we received from our long-term institutional investors and are delighted to welcome several high value global growth funds to the register. The funds raised will enable us to accelerate the growing out of our business and realising Pacific Edge's potential.


We are looking forward to making our Retail Offer to Eligible Shareholders. This will provide our existing shareholders an opportunity to further their investment and participate in our growth.

Approximately 59.3 million shares were sold in the Placement. Settlement is expected to occur on 29 September 2021 for the ASX and 30 September 2021 for the NZX, with allotment and commencement of trading of the Placement shares on both NZX and ASX expected to occur 30 September 2021.


Retail Offer


As announced, Eligible Shareholders in New Zealand are being offered the opportunity to participate in a Retail Offer, to raise up to a further NZ$20 million (A$19.4 million) (with the ability to accept oversubscriptions, subject to demand and at the discretion of the Board).


Each Eligible Shareholder will be entitled to apply for up to NZ$50,000 of new shares under the Retail Offer.

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In the cap raise held at the same time as ASX listing, PEB has added 59,259,259 new shares ; Issue price per security NZ$1.35 or A$1.31. This is an additional 8.13% of share base.


There is also a Retail Offer, just opened, to raise up to a further NZ$20 million (A$19.4 million) (with ability to accept oversubscriptions). Each Eligible Shareholder will be entitled to apply for up to NZ$50,000 of new shares under the Retail Offer.


SP trading a bit above this level, still, at $1.43.

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