Spectral Diagnostics raises $13.2 mln in offering's Tranche A

Spectral Diagnostics Inc (TSX: SDI) has secured gross proceeds of $13.2 million in the closing of Tranche A of its previously announced private placement offering. The financing was arranged with existing investors, including Toray Industries Inc, a Japanese manufacturer. The deal gave Toray 18.8 percent of the company's shares. Spectral's other leading investors are Canadian private equity firm Birch Hill Equity Partners and Medwell Capital Corp, a Birch Hill portfolio company. The Toronto-based company will use the funds to complete the trial of its septic shock treatment and plan for commercialization in the North American market.

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