TruScreen Group Limited (NZX/ASX: TRU), a medical device company that has developed and manufactures an AI-enabled device for detecting abnormalities in cervical tissue in real-time, has announced the successful completion of its renounceable rights issue and shortfall bookbuild. The company’s cervical screening technology enables real-time detection, negating the need for biological tissue sampling and processing. This capital raise, which was substantially oversubscribed, reflects robust investor confidence.
Following the initial announcement on May 21, 2026, TruScreen has finalised the capital raise, bringing the total amount from both the placement and rights issue to just over NZ$4 million. The company received applications for a total of 171,653,080 shares, representing a 15% oversubscription compared to the rights issue offer of 149,464,986 shares. Directors have decided to maintain the offer price of NZ$0.013/A$0.011 as the bookbuild price for both shortfall applications and the additional shares applied for beyond the initial offer.
Rights issue entitlements, amounting to 80,616,522 shares, are scheduled for allotment on June 30, 2026, at the specified offer price. Concurrently, 68,848,464 shortfall shares will also be allotted on June 30, 2026, at the same bookbuild price, with allocation scaled based on shareholders’ holdings on the record date of May 28, 2026. Furthermore, the directors intend to seek shareholder approval for the allocation of an additional 22,188,094 shares that exceeded the original rights offer. A General Meeting for this purpose is anticipated to be held on or around July 28, 2026. Chairman Tony Ho expressed delight with the strong shareholder support, stating that these funds will enable the company to capitalise on significant opportunities in the year ahead.
