EBR Systems, Inc. (ASX: EBR), developer of the world’s only wireless cardiac pacing device for heart failure, today announced the successful completion of its fully underwritten Institutional Placement and the institutional component of its 1 for 2 accelerated non-renounceable entitlement offer. This capital raising initiative, first announced on Thursday, 4 June 2026, garnered significant support from both existing and new eligible securityholders, securing a total of approximately A$106.4 million at an issue price of A$0.38 per New CDI.
The Institutional Placement alone raised approximately A$64.4 million. This includes A$29.4 million under Tranche 1, which does not require securityholder approval, and a further A$35.0 million under Tranche 2, subject to securityholder approval at a special general meeting. The Institutional Entitlement Offer contributed an additional A$42.0 million in gross proceeds, with A$8.4 million taken up by eligible institutional securityholders. The remaining entitlements, including those not taken up by foreign ineligible securityholders, were successfully placed to eligible institutional and sophisticated investors via a bookbuild. Certain funds advised by Brandon Capital, existing securityholders, subscribed for A$35.0 million under the Tranche 2 Placement and committed to A$11.65 million in sub-underwriting for the Retail Entitlement Offer.
The company’s CDIs are expected to recommence normal trading on an ex-entitlement basis on Friday, 5 June 2026, following the lifting of the trading halt. Settlement for the Tranche 1 Placement and the Institutional Entitlement Offer is anticipated on Thursday, 11 June 2026, with allotment and commencement of trading on ASX expected on Friday, 12 June 2026. The Retail Entitlement Offer, aiming to raise a further approximately A$43.6 million, is fully underwritten and will open on Thursday, 11 June 2026, closing on Monday, 22 June 2026, for eligible retail securityholders in Australia and New Zealand.
Canaccord Genuity (Australia) Limited, E&P Capital Limited, and Morgans Corporate Limited are acting as joint underwriters, lead managers, and bookrunners for the overall capital raising. The Tranche 2 Placement, contingent on securityholder approval, is projected to settle in August 2026.
