Pacific Edge upsizes placement to NZ$16m

Pacific Edge (NZX, ASX: PEB) announced it has successfully completed a placement of new ordinary shares, raising NZ$16 million, NZ$1 million more than originally targeted due to oversubscriptions. The placement, priced at NZ$0.10 per share and completed on May 30, 2025, was well supported by existing shareholders and is subject to shareholder approval. The company also plans to launch a NZ$5 million Share Purchase Plan (SPP) for eligible retail investors in July or early August 2025, offering shares at the same NZ$0.10 price, with the potential for oversubscription. The capital raised aims to bolster the company's resources and capabilities to capitalize on clinical and commercial milestones, expand into non-Medicare channels, and regain Medicare coverage for its tests. Shareholder approval for the placement is planned for late July or early August 2025.