Avita Medical shareholders were left wide-eyed after the dual-listed biotech, known for its spray-on skin technology for burns patients, announced it had raised $23 million from Australian institutional shareholders.
The raise was all sewn up overnight with sole lead manager MST Financial Services issuing its term sheet to investors after the ASX market closed at $1.32 per share – an 11.1 per cent discount to the last close.
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