Analytica Limited (ASX:ALT) has received subscriptions worth $1.8 million under its 1 for 2 renounceable pro-rata rights issue priced at $0.008.
A further 122,835,372 shares will be taken up by investors introduced by underwriters Patersons Securities, taking the total raised up to $2.8 million.
Proceeds will be used to fund marketing costs for the launch of its PeriCoach pelvic floor muscle training system in the U.S. and Europe.
Analytica will also grant 116,166,666 options exercisable at $0.011 on or before 29th February 2016; and 116,166,666 long dated options exercisable at $0.014 on or before 28th February 2018.In the U.S. alone, PeriCoach targets 3.35 million women with incontinence whose quality of life could be greatly improved by the system. Globally, the market is worth $388 million in revenue annually.
During the quarter ended 30th June 2015, the company released PeriCoach in the U.S. and UK while sales and awareness increased in Australia.
