Ondine Biomedical Inc (AIM:OBI) has closed its bookbuild offer raising the maximum of £2.5 million at 9p each, but said that the amount being raised will increase due to the demand
“In light of the demand for the placing and subscription the company intends to increase the overall fundraising size, as commitments already received mean that there are insufficient shares to allocate to the broker option or to employee subscribers,” it said in a statement.
Proceeds will be used to accelerate the “commercialisation momentum" in Canada, the UK, Spain and Mexico for Ondine's groundbreaking Steriwave photodisinfection technology, it said last week when it originally announced the funding round.