Hydrix Limited (ASX:HYD) raises $10.0m via Placement to Key Institutional Investors
Henslow is pleased to have acted as Co-Manager to the $10.0m Placement for Hydrix. The raise was completed at an offer price of $0.28 cents per share to institutional and sophisticated investors.
Funds raised will accelerate the company’s growth strategy and support the rollout of AngelMed Guardian System (world’s first FDA approved implantable heart attack alert device) in Asia Pacific. Additionally, the funds will help distribute Hydrix’s Phyzhon Health’s PHYRARI FFR-WIRE product throughout Australia and New Zealand. Of the $10.0m raised, $6.0m will be used to bolster the company’s growth strategy and $3.25m will be used to extinguish outstanding secured debt.
Hydrix is a product innovation company, providing product development services for clients in large addressable global markets including medical & industrial, and connected cardiovascular technologies and services throughout the Asia Pacific region. With over 200+ successfully designed products and solutions, Hydrix is recognised as one of the leading product development companies in Australia.
Hydrix has three core business segments: Services, Medical and Ventures. The company is underpinned by world class product development expertise within the Services division. Hydrix is now leveraging these skill sets to create and capture the value that it creates for its customers via Hydrix Medical and Hydrix Ventures.
Henslow has worked closely with Hydrix over the past two years, with this being the fourth capital raise that Henslow has undertaken for Hydrix. We look forward to growing our successful relationship with Hydrix as they strive to become a global leader in product development.