Sphere Medical has announced that plans for a fund raise are being finalised. Soundings from both existing and prospective new investors suggest there is support for an equity issue. We remind that the current use of cash is around £7-8m per annum. An operating update shows that interest in Proxima 4 continues to build and the number of product demonstrations and evaluations is rising. The three distributors have received their initial supplies and started their marketing campaigns. Our valuation is placed under review until details of the financing plan are announced.
14 Jul 2017
Funding to support Proxima 4 roll-out being finalised
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Funding to support Proxima 4 roll-out being finalised
Sphere Medical Holding (SPHR:LON) | 0 0 0.0% | Mkt Cap: 0.037m
- Published:
14 Jul 2017 -
Author:
Franc Gregori -
Pages:
3
Sphere Medical has announced that plans for a fund raise are being finalised. Soundings from both existing and prospective new investors suggest there is support for an equity issue. We remind that the current use of cash is around £7-8m per annum. An operating update shows that interest in Proxima 4 continues to build and the number of product demonstrations and evaluations is rising. The three distributors have received their initial supplies and started their marketing campaigns. Our valuation is placed under review until details of the financing plan are announced.