The fundraiser will include £30 million worth of shares for new and existing institutional investors and an open offer of 5 5 million, which is available to all eligible shareholders.
As well as allowing Cryo to explore possible acquisitions, those funds will enable the Chepstow-based company to accelerate the commercial expansion of its products in the US, EMEA and APAC; Developing its products and technology; Invest in further clinical trials and research and development.
Craig Gullifford, CEO of Cryo, said:
“We use these additional funds to accelerate the commercial upgrade of our patented electrotherapy kit, powered by our Chroma compact power platform technology. Full integration with leading robotic surgery technologies. This means that we will be able to further explore strategic acquisition opportunities, continue our research and development progress for new equipment, and conduct the necessary clinical trials to target markets in China and Japan.