MVP Completes Capital Raise for Medical Advancements

Medical Developments International Limited (AU:MVP) has released an update.

Medical Developments International Limited has finalized its capital raising efforts, gathering approximately $10 million through a retail entitlement offer and institutional placements, with the retail offer raising $1.5 million from existing shareholders. Despite a shortfall in subscriptions, the underwriter, Bell Potter Securities Limited, has ensured full underwriting of the new shares, which are set to start trading on the ASX soon. This financial boost aims to bolster MVP’s commitment to emergency medical solutions, including their flagship non-opioid pain relief product, Penthrox®.

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