G Medical Innovations Ltd (ASX:GMV) has made its prospectus for a public offering on the NASDAQ public after its registration was approved by the US Securities and Exchange Commission (SEC).
The company intends to list its American depositary shares on the capital market under the symbol GMVD and has proposed an equity capital raising to raise a minimum of US$17 million.
G Medical president & CEO Yacov Geva has also agreed to convert US$2 million of loan funds he advanced to the company into ordinary shares.
This comes soon after his recently approved loan conversion of US3,317,500 to ordinary shares at the April 24 company general meeting.
The company will remain on the ASX and be effectively dual listed on the NASDAQ after completing the public offering.
Executives from G Medical will embark on a US roadshow on June 3 after the mandatory exposure period closes.
The number of shares to be offered and sold, and the final amount proposed to be raised, will be finalised after the roadshow is complete.
A copy of the prospectus will be available on the company’s website and can be accessed on the SEC’s website.