ImpediMed (ASX: IPD) has been granted a trading halt by the ASX today as it prepares to release an announcement to the market regarding a proposed capital raising.
The company said the price and number of shares to be issued under the capital raising is yet to be determined.
While ImpediMed did not give any indication where the funds raised will be allocated, the company has been working to gain greater coverage of its L-Dex® U400 device.
The L-Dex® U400 device is the first medical device with a US Food and Drug Administration clearance to aid health care professionals, clinically assess secondary unilateral lymphoedema of the arm and leg in women and the leg in men.
The halt will last until the earlier of an announcement being made available to the market, or the opening of trade on Thursday 3 May.
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