News and Announcements
Extension and upsize of Series E Capital Raise
- Published April 12, 2021 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
Rapid Response Revival is pleased to announce that in response to strong demand, the company has decided to upsize the current Series E capital raise from a maximum of $5m to a maximum of $10m. The pricing of new shares will remain the same.
The company has to date received a new investment of $4.2m and has recently engaged with a number of new prospective investors and will extend the closing date to the end of May, or until the offer is fully subscribed, to accommodate this new investment interest.
This will place the company in a strong working capital position to continue to develop clinical trials and build out manufacturing capabilities on the path to first sales of the device into New Zealand later this year.
About Rapid Response Revival Research Limited
Rapid Response Revival is the innovators behind the CellAED® defibrillator technology – transforming everyday people into heroes.
The CellAED® is designed to assist everyday people and medical professionals to prevent many unnecessary deaths. It is a lightweight, affordable, and personal Automated External Defibrillator (AED) solution, targeting the current government and enterprise market as well as the personal and home AED market.
Rapid Response Revival Limited seeks to improve the survival rate of SCA by making fast treatment effective, simple and affordable – restarting hearts in cardiac arrest within the critical ‘Survival Gap’ (first 4 minutes) before emergency services arrive. This increases the survival rate of SCA victims who receive defibrillation within this ‘Survival Gap’ as high as 70% and helping to bridge the gap to professional care.
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