Avita Medical completes Australian equity raise

AVITA Medical (RCEL) announced the completion of a private placement to institutional and professional investors in Australia to raise an approximate gross amount of $15 million by way of the issue of approximately 17.2 million New CDIs at an offer price of A$1.32 per New CDI. Proceeds from the Placement will be used for working capital requirements and will provide additional strategic flexibility to support continued growth of the Company’s therapeutic acute wound portfolio. This is expected to cover operations until free cash flow begins in 2026. MST Financial Services Pty Limited acted as sole lead manager.