TruScreen Raises NZ$2.35M via 107 Million Share Placement at NZ$0.022

Capital Raise Details and Investor Support

TruScreen Group Limited (NZX/ASX, TRU), a medical device innovator specialising in AI-enabled cervical screening technology, has announced a successful NZ$2.35 million capital raise through a share placement. The company issued over 107 million shares at NZ$0.022 each, securing firm commitments from both existing and new investors, including institutional participants from Singapore and Hong Kong. This injection of capital reflects growing confidence in TruScreen's technology and growth prospects.

Approximately 80.9 million of these shares were issued under the company’s existing 15% placement capacity, with the remainder subject to shareholder approval at a meeting scheduled for 11 July 2025. Alongside the placement, TruScreen plans to issue one free attaching option per new share, exercisable at NZ$0.022 within one year, pending shareholder consent.

Share Purchase Plan Opens to Eligible Shareholders

In parallel with the placement, TruScreen has launched a share purchase plan (SPP) offering eligible shareholders the chance to buy up to NZ$50,000 worth of shares at a price set at the lower of NZ$0.022 or a 2.5% discount to the volume-weighted average price over the offer period. The SPP opens on 3 June and closes on 23 June 2025, with a cap of approximately NZ$1.22 million under listing rules, though oversubscriptions may be accepted subject to shareholder approval.

Each share acquired under the SPP will also come with a free attaching option, mirroring the terms of the placement options, again subject to approval. This initiative aims to broaden shareholder participation while providing existing investors with an attractive entry point.

Strategic Implications and Market Position

Chairman Tony Ho highlighted the significance of the capital raise, noting the strong institutional interest as a validation of TruScreen’s achievements over the past year. The funds raised will support the company’s ongoing commercialisation efforts and expansion of its TruScreen Ultra device, which leverages AI to provide real-time cervical tissue abnormality detection without the need for specialised personnel or laboratory infrastructure.

TruScreen’s device is registered and approved for clinical use across multiple jurisdictions, including Australia, China, the UK, and several emerging markets. With over 200 devices installed globally and approximately 150,000 examinations conducted in the 2025 financial year alone, the company is well positioned to capitalise on growing demand for accessible cervical cancer screening solutions.

Looking Ahead

The upcoming shareholder meeting in July will be a key milestone, determining the final structure of the capital raise and option issuance. Meanwhile, the SPP offers shareholders a timely opportunity to increase their stake at a discount, potentially setting the stage for further growth initiatives. TruScreen’s strategic focus on expanding its footprint in Asia and other emerging markets aligns with its vision of a world without cervical cancer.