4DMedical (ASX:4DX) raised AU$8.4 million via its oversubscribed share purchase plan, according to a Tuesday filing with the Australian bourse.
The company exercised its discretion not to scale back the AU$1.4 million in oversubscription.
New shares are priced at AU$0.36 apiece, a 2.5% discount to the five-day volume-weighted average of the company's shares.
More than 23.3 million new shares will be allotted on Tuesday and are expected to start trading on Wednesday.
In total, the company raised AU$13.9 million via an earlier placement and the share purchase plan. This will be used for general working capital amid a push to advance the commercialization of the company's lung diagnostics portfolio and support the Food and Drug Administration approval of its ventilation and perfusion technology, the filing stated.
The respiratory imaging technology company's shares were up over 1% in recent Tuesday trade, earlier hitting their lowest since March 2023.
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