Rua receives bridging capital

Friday 20th September 2024

Tairawhiti, New Zealand – Rua Bioscience (NZX: RUA ) has decided to place new shares with key shareholders as part of a capital raise aimed at meeting short-term working capital requirements.

The company has secured $150,000 through this targeted raise.

This is part of Rua Bioscience’s broader financial strategy to ensure sufficient cash flow for its immediate needs while continuing to execute its growth plans in key markets. The funds will bridge the gap until the finalisation of the recent manufacturing facility sale, allowing Rua to focus on scaling its sales efforts in key international markets, particularly Germany, Australia and UK.

Chair Anna Stove stated, “This capital raise demonstrates the strong backing from our core shareholders and their confidence in Rua’s strategic direction. It enables us to maintain our operational momentum and ensure we have the necessary resources to meet our immediate working capital needs as we drive significant sales growth and sustainable revenue in FY25.”

ENDS

Comments from our readers

No comments yet