0035 GMT - EBR Systems' capital raise significantly reduces risks around its plans to scale up the WiSE medical technology, but it was markedly different than Bell Potter's expectations. EBR Systems aimed to raise US$108 million at 0.38 Australian cents a share. Bell Potter had anticipated a US$100 million raise at A$0.63/share. The gap reflects the sharp decline in EBR Systems' share price over the past couple months as the market waited for it to start the funding round, Bell Potter says. EBR aims for this to be last funding round before it reaches breakeven. "This raising should serve as a cathartic event and clear the overhang from the share price," says analyst Martyn Jacobs. Bell Potter retains a buy call and A$2.00/share price target. EBR Systems is downs 11% at A$0.39. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

EBR Systems aimed to raise US$108 million at 38 Australian cents a share. "EBR Systems Clears Stock Overhang With Capital Raise -- Market Talk," at 0035 GMT, misstated the amount as 0.38 Australian cents a share.

(END) Dow Jones Newswires

June 04, 2026 20:38 ET (00:38 GMT)

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