MedAdvisor’s Shareholder Approval Looms as Capital Raise Exceeds Targets

MedAdvisor's Capital Raise Exceeds Expectations

MedAdvisor Limited, a global leader in pharmacy-driven patient engagement, has successfully completed its Share Purchase Plan (SPP), raising $2.668 million, well above the initial $2 million target. This follows a $5 million placement to institutional and sophisticated investors announced earlier in April, both at a share price of $0.10.

The SPP allowed existing shareholders to invest up to $30,000 each on the same terms as the institutional placement, reflecting strong shareholder confidence in MedAdvisor’s growth strategy. The company has committed to issuing all valid applications, including oversubscriptions, signaling robust demand.

Strategic Use of Funds and Shareholder Engagement

CEO and Managing Director Rick Ratliff expressed gratitude to shareholders for their support, emphasizing that the capital raised will underpin ongoing strategic and cost optimisation initiatives. The funds will also bolster working capital, providing MedAdvisor with a stronger financial footing to drive sustainable growth in its core markets.

The newly issued shares from the SPP will be fully paid ordinary shares, trading on the ASX from May 16, 2025, and will rank equally with existing shares, ensuring no dilution of shareholder rights.

Upcoming Extraordinary General Meeting

MedAdvisor also announced an Extraordinary General Meeting (EGM) scheduled for June 27, 2025. This meeting will seek shareholder approval for the issuance of shares worth $375,000 to company directors, which was part of the earlier placement but subject to regulatory approval. The outcome of this EGM will be closely watched as it impacts board alignment and governance.

MedAdvisor’s platform, THRiV, is a cloud-based, AI-enabled solution that supports over 34,000 pharmacies in the US and nearly all Australian pharmacies, connecting millions of patients to improve medication management and pharmacy workflow. The successful capital raise positions the company well to continue expanding its footprint and enhancing its technology offerings.

Overall, MedAdvisor’s ability to attract strong shareholder participation in the SPP, alongside institutional support, underscores market confidence in its business model and growth prospects amid a competitive healthcare technology landscape.