Emyria Ltd (ASX:EMD) MD Michael Winlo speaks with Proactive after announcing the company has received strong support for its recent placement, securing firm commitments from new and sophisticated investors to raise $2 million (before costs). Alongside the oversubscribed placement, Emyria is also undertaking an entitlement offer to raise around $3.1 million at the same terms. Emyria intends to use the funds raised from the placement and entitlement offer to support its strategic objectives in mental healthcare, particularly in new drug development and in addressing the needs of the estimated 400,000 Australians impacted by severe PTSD.
Winlo said, "We're thrilled by the strong support for our recent placement, particularly from our long-term investors. We're equally excited to extend the same investment terms to our shareholders through an entitlement offer.
"This capital will advance our mental healthcare programs, especially our efforts to combat severe PTSD, and accelerate our drug development initiatives.
"Emyria's unique approach serves patients grappling with complex mental health issues while generating revenues and real-world data to lay a solid foundation for our future growth and innovation.
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