10:51 AM EDT, 09/10/2024 (MT Newswires) -- Perimeter Medical Imaging AI ( PYNKF ) , a commercial-stage medical technology company, was edging up early Tuesday as it moves to raise up to $13.5 million through the sale of 32.2 million common shares at $0.42 each.

Certain existing institutional and accredited investors, including its single largest shareholder, SC Master Holdings (Social Capital), have agreed to subscribe for a total near $9.7 million proceeds. Social Capital may also nominate up to two directors, pursuant to an amended investor rights agreement.

The offering is expected to close around September 20. Proceeds will be used for working capital, commercialization of technology, clinical studies, and general corporate purposes.

Perimeter was last seen up $0.005, to $0.39 on the TSX Venture Exchange.

Price: 0.39, Change: +0.01, Percent Change: +1.30