Nanoveu Ltd (ASX:NVU) has completed its placement raising a total of $660,000 (before costs) at a price of 5 cents per share.
The company has issued 13.2 million fully paid ordinary shares and 3.3 million unlisted options with an exercise price of $0.10 on or before December 22, 2022.
Nanoveu has made major strides to accelerate growth throughout 2020 and the placement firms up the company’s position to maintain momentum into the new year, with the funding to be used for inventory build and working capital.
Antiviral products
Nanoveu is a developing a range of antiviral products for mobile phones and other digital displays and the placement represents prudent capital management, firming up the company’s balance sheet during a period of buoyancy in financial markets.
This ensures the company is able to fully focus on securing further international distribution agreements for its antiviral products, as well as conducting further development of the EyeFyx prototype.
The flagship product is its Nanoshield antiviral protection which is available in a variety of mobile phone screen covers, mobile phone cases and as a commercial film capable of being applied to a number of surfaces.