Selfcare raises $11 million in initial public offering (IPO):
This article was originally published in Clinica
Selfcare has raised $11 million in its IPO, issuing 1.3 million shares at $8.50 each. The flotation raised considerably less than expected. The prospectus offered 2.8 million shares at $12, which would have realised $30-35 million (see Clinica No 713, p 13). The diagnostics company intends to use the proceeds to fund R&D, for working capital, and possible acquisitions and debt repayment.