AVITA Medical Secures $23m in Australian Equity Raise to Fund Growth Push

AVITA Medical has tapped the market for fresh capital, completing a $23 million placement to bolster its balance sheet and fuel the expansion of its acute wound care portfolio.

The Nasdaq and ASX-listed company issued around 17.2 million new CHESS Depositary Interests at $1.32 each, an 11 per cent discount to its last closing price. The raise drew participation from both new and existing Australian institutional investors, with settlement expected on 19 August and trading of the new securities from 20 August.

Chief executive Jim Corbett said the strong uptake reflected growing confidence in AVITA’s commercial strategy. “We welcome our new Australian shareholders and extend our sincere gratitude to our existing investors for their continued support,” he said.

The funds will go toward working capital and will give the company extra flexibility to pursue growth opportunities as it works toward generating free cash flow in 2026. AVITA’s product suite is led by the RECELL System, which uses a patient’s own skin to create Spray-On Skin Cells for burns and trauma wounds. The platform is approved in the US, Europe, Japan and Australia, with further applications in development.

MST Financial Services acted as sole lead manager for the raise. The new CDIs will rank equally with existing securities on issue.