Allied Healthcare secures $4.86m equity funding for vaccine development

The equity funding package comprising private placement will raise a total of $1,951,369.33 by way of a placement of Allied Healthcare shares to investors and related parties of Allied Healthcare.

The Metal Group, an entity controlled by a substantial shareholder, will subscribe for $450,000 of the placement.

As per the terms of the placement, Allied Healthcare will issue a total of 71.4 million shares which is nearly 12.5% of Allied Healthcare’s issued capital.

In addition to the private placement, Allied Healthcare has entered into a standby equity distribution agreement with Kodiak Capital pursuant to which it has secured a US$3m in equity funding facility from Kodiak Capital.