Advanced technology company Dotz Nano Limited (ASX:DTZ) has executed an agreement with Lind Global Fund II, LP, a fund managed by The Lind Partners for an investment of $5.15 million.
The $5.15 million investment by Lind is via a pre-payment for a placement of ordinary fully paid shares and 7,118,644 unlisted four-year options with an exercise price of 47.5 cents.
The funding commitment will be made by way of a share placement, the proceeds of which will be used to:
- accelerate projects associated with the recent commercial agreement with Theracell Labs Ltd, specialising in development of cell and gene therapy devices, treatments and processing systems;
- scale up the commercialisation of Dotz solutions in the Oil & Gas sector;
- support further R&D;
- expand marketing activities; and
- build additional commercially viable partnerships in Dotz verticals.
Dotz has substantial visible commercial opportunities ahead. To best position the company in the near-term so that it can execute on those opportunities, the placement to Lind provides us with the runway needed to deliver on the TheraCell Labs agreement and other growth opportunities,” Dotz Chairman, Bernie Brookes AM, said.
“We believe the most rapid way of delivering on the potential we see for Dotz is via strategic partnerships. With this funding we will be able to build more commercially viable partnerships across authentication, bio-medical and bio-processing, that will underpin long term growth in shareholder value.
“Our new and experienced management team has put in place a refreshed structure, process and procedures to direct the growth opportunities that exist. As a result we have shifted our focus to product, commercialisation and sales with advanced negotiations underway with multiple potential customers.”