Onward Medical Launches Capital Increase Through Private Placement
Onward Medical has announced the launch of a capital increase through a private placement with institutional investors, aiming to raise approximately 50 million euros.
Details of the Private Placement
According to the press release, Onward Medical seeks to raise gross funds of approximately 50 million euros through a private placement of new ordinary shares. The share price will be determined at the end of the book-building process.
Utilization of Funds
Onward Medical plans to use the net proceeds from this placement to fund various projects, including product development, clinical studies, and regulatory activities for the ARC-IM system, aimed at treating blood pressure instability in individuals with spinal cord injuries. About 40% of the funds will be allocated to these initiatives, 30% to the expansion of sales and operations to support the commercialization of the ARC-EX system, 20% to quality and administrative activities, and 10% for working capital, financial costs, and existing obligations.
Book-Building and Listing Details
The book-building period for this private placement is expected to last one business day, allowing for broader investor participation. The new shares are expected to be listed on Euronext in Brussels, Amsterdam, and Paris on October 28, 2025. The company has obtained approval from the Financial Services and Markets Authority of Belgium to temporarily suspend trading of its shares during this period.
