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MINNEAPOLIS & MELBOURNE, Australia--(BUSINESS WIRE)--Osprey Medical, Inc. (ASX:OSP) (Osprey or Company) today announces that it has received commitments from sophisticated and institutional investors to subscribe for 100 Million CHESS Depositary Interests (CDIs) (representing 50 Million shares of Common Stock) at A$0.28 per CDI to raise approximately A$28 Million (Placement).
Osprey Medical Inc (ASX:OSP) has been granted a trading halt by the ASX today, with its shares placed in pre-open. Osprey requested the halt pending capital raising details. The halt will remain in place until the opening of trade on Thursday 4th August 2016, or earlier if an announcement is made to the market.
Osprey Medical has received FDA clearance for expanded marketing claims of dye savings, image quality and reflux reduction for the DyeVert System.