Medibio completes heavily oversubscribed institutional placement for $13.9 million to accelerate commercialisation

Friday, October 13, 2017 2:00 AM UTC

Highlights:

Placement completed, with oversubscriptions accepted up to $13.9 Million
Fidelity Investments follows on to maintain 10.6% ownership of the Company
IFM Investors and Regal FM to become substantial shareholders post-transaction
Medibio now fully funded to pursue aggressive commercialisation and IP strategy

SYDNEY, Australia and MINNEAPOLIS, Oct. 12, 2017 -- Medibio Limited (ASX:MEB)(OTCQB:MDBIF) is pleased to announce that it has received firm commitments to raise $13.9 million via the placement of 38,736,640 ordinary shares at a price of $0.36 per share. The placement will be conducted in a single tranche using the Company’s existing placement capacity under ASX Listing Rule 7.1 and 7.1A.

The funds will allow the Company to:

Build out organisational infrastructure for product commercialisation
Establish requirements and testing of products and products under development for future market verticals
Development of technology platform and infrastructure, including engineering capability, to support commercialisation
Position Medibio for regulatory approvals on future products

Aesir Capital Pty Ltd acted as Sole Lead Manager to the transaction.

About Medibio Limited

Medibio (ASX:MEB) (OTCQB:MDBIF) is a mental health technology company that has pioneered the use of objective biometrics to assist in the screening, diagnosing, monitoring and management of depression and other mental health conditions. The company was founded in Australia, with offices located in Melbourne (Vic), and U.S. offices in Minneapolis, MN and Palo Alto, CA. Medibio is listed on the Australian Securities Exchange Ltd and trades on the OTCQB Venture Market www.otcmarkets.com and www.asx.com.au.

Additional disclosure required by listing rule 3.10.5A
In accordance with listing rule 3.10.5A in relation to shares issued under the Company’s 7.1A capacity details of the placement are:

Effect of raising
The effect of the announced raising on the capital structure of the Company is set out below.

	Number	Dilution
Shares currently on issue	156,196,558
Placement
Shares to be issued under LR7.1 placement capacity	23,141,984	14.82	%
Shares to be issued under LR7.1A placement capacity	15,594,656	9.98	%
Total Shares on issue after completion of the Placement	194,933,198	24.80	%

The Company believes the benefits from funds raised in this placement at a discount to the 15-day VWAP of 11.9% outweigh the inability of shareholders to participate. The placement was not underwritten and direct costs of the raising are up to 7.5% of funds raised.

Further Information: Website: www.medibio.com.au
Medibio Shareholder Enquiries:
Jack Cosentino
CEO and Managing Director
Medibio Limited
[email protected]
T: +1 (952) 465 4787

Australian Media Enquiries:
Peter Taylor
NWR Communications
[email protected]
T: +61 (0) 412 036 231

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Medibio completes heavily oversubscribed institutional placement for $13.9 million to accelerate commercialisation

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