HeraMED Limited (ASX: HMD), a medical data and technology company pioneering digital maternity care, has announced the completion of a $3.2 million placement. The company received firm commitments to raise A$3.2 million (before costs) through a two-tranche placement of 80.0 million fully paid ordinary shares at an issue price of $0.04 per share. This represents a discount of approximately 7.0% to the last traded price of $0.043.
The placement saw participation from new institutional and sophisticated investors, alongside continued support from existing shareholders. HeraMED’s Managing Director and CEO, Anoushka Gungadin, expressed pleasure with the strong interest shown, reinforcing the progress HeraMED has made in advancing its commercial strategy. The company has initial commercial agreements in place with Lee Health and Philips, and a growing pipeline of health systems and partners.
The funds raised will be used to support and accelerate commercial deployments, pilots, and the integration of HeraCARE into large health systems, private clinics, and several platforms in the U.S., Australia, and Europe. Tranche 1 will see the issue of 41,300,685 new ordinary shares, utilising the company’s capacity under ASX Listing Rules 7.1 and 7.1A. The remaining 38,699,315 new ordinary shares will be issued in Tranche 2, subject to shareholder approval at an upcoming meeting.
Non-Executive Director, Sharon Howell, has elected to participate in the Placement (in Tranche 2) in the amount of A$57,500, subject to shareholder approval. Westar Capital Limited and Shares in Value Pty Ltd acted as Joint Lead Managers to the Placement, with Candour Advisory Pty Ltd acting as co-manager & book runner. Indicative dates for settlement and allotment of both tranches have been provided, with the shareholder meeting scheduled for 16 March 2026.
