en.Wedoany.com Reported - Vitrafy Life Sciences Ltd (ASX:VFY, OTC:VFYLF) has raised A$30 million through an institutional placement, with the funds to be used to expand manufacturing capacity and accelerate commercial growth in the US market. The company has recently made progress in the US blood market.
The placement received strong support from new and existing institutional investors as well as sophisticated investors. Under the plan, Vitrafy will issue approximately 11.5 million new shares at A$2.60 per share.
Managing Director and CEO Brent Owens said recent commercial milestones achieved in the US blood market have strengthened the company's confidence in its growth prospects. He stated that the funds enable the company to expand Guardion production to meet demand and accelerate the growth of its US operations, while advancing toward commercialization and medical device registration milestones.
Vitrafy plans to use the raised funds to manufacture additional Guardion cryopreservation equipment, expand its sales and operational footprint in the US, meet working capital requirements, and cover costs associated with this financing.
The issue price represents a 31.6% discount to the company's latest closing price of A$3.80 on June 9, 2026, and an 8.8% discount to its 15-day volume-weighted average price.
The company will also launch a non-underwritten Share Purchase Plan (SPP) targeting up to A$2 million, allowing eligible shareholders in Australia and New Zealand to invest at the same price of A$2.60 per share as institutional investors, with a maximum investment of A$30,000 per person. The SPP is scheduled to open on June 19 and close on July 3, with new shares expected to be allocated on July 9. Settlement of shares issued under the institutional placement is expected to be completed on June 17, with allocation on June 18.
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