Pacific Edge has opened its share purchase plan to raise $5 million as part of a $20m raise announced in late May.
Last month, the cancer diagnostics company raised $16m in new equity in a placement of new ordinary shares — $1m more than it sought — after accepting oversubscriptions.
The capital raise also included an offer of $5m of new shares to retail investors, by way of a share purchase plan.
Eligible shareholders were able to apply for up to a maximum of $50,000 of new shares per shareholder at 10c per share, the same price per share offered to investors who took part in the placement.
The company could elect to accept oversubscriptions at its discretion to ensure it had sufficient flexibility to cater for demand from its retail shareholder base, a note to the NZX said.
Pacific Edge will hold its annual shareholders meeting in Auckland on August 6.
