Conavi Medical Prices Up to $20 Million Equity Offering to Fund U.S. Launch of Novasight Hybrid

An update from Conavi Medical ( (TSE:CNVI) ) is now available.

Conavi Medical Corp. has priced a public offering of between 33.3 million and 44.4 million common shares and/or pre-funded warrants at roughly $0.45 per security, targeting gross proceeds of $15 million to $20 million. The capital raise, conducted on a commercially reasonable efforts basis through Bloom Burton Securities, is intended to fund U.S. FDA 510(k) clearance of the next-generation Novasight Hybrid cardiovascular imaging system, support a limited market release and broader U.S. commercial launch, and bolster working capital, underscoring the company’s push to expand its footprint in the U.S. cardiovascular imaging market while accepting customary dilution and agency compensation structures.

The most recent analyst rating on (TSE:CNVI) stock is a Buy with a C$1.00 price target. To see the full list of analyst forecasts on Conavi Medical stock, see the TSE:CNVI Stock Forecast page.

More about Conavi Medical

Conavi Medical Corp., listed on the TSX Venture Exchange, is a commercial-stage medical device company that designs, manufactures and markets imaging technologies used to guide minimally invasive cardiovascular procedures, with a focus on advancing its Novasight Hybrid system for clinical use in key markets such as the United States.

Average Trading Volume: 25,793

Technical Sentiment Signal: Strong Sell

Current Market Cap: C$24.05M

Learn more about CNVI stock on TipRanks’ Stock Analysis page.