SomnoMed SPP

SomnoMed has announced a small $7.0m capital raising to fund the expansion of its manufacturing facility. The retail component of the share purchase plan closes on 15 Aug 14 and entitles existing shareholders to subscribe for up to $15,000 worth of shares at $1.50 each, 10% below the current market price. The offer price is below our Buy price of $1.60 and we recommend members subscribe if they wish to increase their position. Our current recommended portfolio limit for SomnoMed is 2% and the stock is up 3% since Your small-cap healthcare portfolio from 8 Jul 14 (Hold –...

SomnoMed has announced a small $7.0m capital raising to fund the expansion of its manufacturing facility. The retail component of the share purchase plan closes on 15 Aug 14 and entitles existing shareholders to subscribe for up to $15,000 worth of shares at $1.50 each, 10% below the current market price. The offer price is below our Buy price of $1.60 and we recommend members subscribe if they wish to increase their position. Our current recommended portfolio limit for SomnoMed is 2% and the stock is up 3% since Your small-cap healthcare portfolio from 8 Jul 14 (Hold – $1.62). HOLD.

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