Pinned straw:
This looks like a good deal for EMVision -- a lot of funding at an attractive price, and with a partner that can offer some real advantages including access, production and components.
Companies that are pre-commercial are always spicy, especially those in the medical space, but EMVision really does seem to be making good headway and I'll be watching with great interest to see how the industry responds to its products. There's clearly a big and attractive market, and the potential of accurate, low cost & portable brain scans could be a bit of a game changer.
I hold a very small watching position.
Some further detail and thoughts:
- Issue price of the placement was $2.05 for a 8.73% stake
- This is Keysight's first major investment in enabling innovation in the global medical device manufacturing and imaging sector, demonstrating its belief in the clinical and commercial value that can be delivered by EMVision's innovative neuroimaging technology - huge tick for EMV
- Keysights Vector Network Analysers (VNA) is effectively the central “brain” of the emu technology - collaboration dates back to 2019 to develop a new generation of a miniaturised and high-performance VNA which power EMV’s Emu device
- Raises the cash balance to $23.7m
- EMV will now be in a position to drive KYSE and vice-versa in the development of the VNA's and emu, further entrenching EMV's moat around the core technology.
A smart, no-fuss win-win way to raise capital vs say, a pure institutional or retail placement which would have brought no expertise/skin-in-the-game.
Discl: Held IRL and on SM