ImpediMed Secures Additional Funding of $5 Million Under Capital Growth Facility, After Increase in June Quarter US Sales

MT Newswires Live

07-16

ImpediMed (ASX:IPD) said that the increase in its US sales in the fiscal fourth quarter qualified it for an additional tranche 2 funding of $5 million under a capital growth facility with SWK Funding, according to a Wednesday Australian bourse filing.

US sales for the June quarter came in at 44 units, rising 100% from the previous quarter and 91% from the year-ago quarter. The total contract value for the fiscal fourth quarter came in at AU$6.3 million, jumping 29% from the prior quarter.

The firm executed an agreement for a five-year $15 million growth capital debt facility with SWK Funding in February. Funds under the facility will be used to support growth and commercialization activities.

Its shares jumped 13% on market close.

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