Adherium (ASX: ADR), a provider of integrated digital health solutions and a worldwide leader in connected respiratory medical devices, announced it has secured firm commitments for an A$0.35 million institutional placement before costs. The placement, priced at A$0.005 per share, mirrors the terms of the recent Accelerated Non-Renounceable Entitlement Offer (ANREO), which was fully subscribed, raising A$4.492 million.
The proceeds from the placement will be allocated to improving the company’s financial flexibility and bolstering working capital. Adherium’s Hailie® platform solution provides clinicians, healthcare providers and patients access to remotely monitor medication usage parameters and adherence, supporting reimbursement for qualifying patient management.
According to Adherium CEO Dawn Bitz, the capital raise ensures that Adherium is well-funded to pursue organic growth opportunities. The placement involves the issuance of 70.2 million new fully paid ordinary shares at A$0.005 each, along with one unlisted option for every new share issued. These options have an exercise price of A$0.005 and expire on 31 July 2026. Furthermore, exercising an option by 15 November 2025 entitles the holder to a bonus option with the same exercise price, expiring on 15 November 2026.
The placement, managed by PAC Partners and Stralis Capital as joint lead managers, is expected to settle today, 4 August 2025. All new shares issued will rank equally with existing shares. The placement falls within the company’s placement capacity under ASX Listing Rule 7.1, excluding director shares which are subject to shareholder approval at the 2025 AGM.
