Vitrafy Life Sciences Ltd (ASX:VFY, OTC:VFYLF) is raising A$30 million in an institutional placement, which will give it fresh capital to expand manufacturing capacity and accelerate commercial growth in the United States following recent progress in the US blood market.
The placement was strongly supported by new and existing institutional and sophisticated investors and will see the company issue around 11.5 million new shares at A$2.60 each.
Managing director and CEO Brent Owens said recent commercial milestones in the US blood market had increased confidence in the company's growth prospects.
“This capital enables us to scale Guardion manufacturing to meet demand and accelerate the growth in our US operations as we progress towards our commercialisation and medical device registration milestones,” he said.
Funds to support manufacturing and US growth
Vitrafy plans to use the proceeds to manufacture additional Guardion cryopreservation devices, expand its US sales and operational footprint, support working capital requirements and cover costs associated with the capital raising.
The offer price represented a 31.6% discount to the company's last closing share price of A$3.80 on June 9, 2026, and an 8.8% discount to its 15-day volume weighted average price.
Share Purchase Plan opens for retail investors
The company will also launch a non-underwritten Share Purchase Plan (SPP) targeting up to A$2 million, allowing eligible Australian and New Zealand shareholders to invest up to A$30,000 each at the same A$2.60 per share price offered to institutional investors.
The SPP is scheduled to open on June 19 and close on July 3, with new shares expected to be allotted on July 9. Settlement of shares issued under the institutional placement is expected on June 17, with allotment to follow on June 18.