09:09 AM EDT, 08/12/2025 (MT Newswires) -- AVITA Medical ( RCEL ) said Tuesday it completed a private placement to institutional and professional investors in Australia, raising gross proceeds of $15 million.

The company said it plans to use the proceeds towards working capital requirements and its therapeutic acute wound portfolio.

Under the placement, AVITA Medical ( RCEL ) issued about 17.2 million new Chess Depositary Interests, or CDIs, at an offer price of about 1.32 Australian dollars ($0.86) per new CDI, the company added.

Shares of the company were down 1.9% in recent Tuesday premarket activity.