Conavi Medical closes $12-million public offering

Executive Summary

• Conavi Medical Corp. has closed its previously announced public equity offering, raising approximately $12 million in gross proceeds.
• The company intends to utilize the net proceeds primarily to obtain U.S. FDA 510(k) clearance for its next-generation Novasight Hybrid system and to initiate a targeted market release in the United States, with remaining funds allocated to working capital and general corporate purposes.
• The offering consisted of 26,666,670 common shares priced at $0.45 per share, with Bloom Burton Securities Inc. acting as the sole agent.

Key Details

• Gross Proceeds: Approximately $12,000,001.50.
• Shares Issued: 26,666,670 common shares.
• Price Per Share: $0.45.
• Use of Proceeds:
  • Obtain U.S. FDA 510(k) clearance for the next-generation Novasight Hybrid system.
  • Initiate a targeted market release in the United States.
  • Working capital and other general corporate purposes.
• Agent/Underwriter: Bloom Burton Securities Inc. (Sole and exclusive agent).
• Agent Compensation:
  • Cash Commission: $701,479.49.
  • Compensation Options: 1,558,843 options.
  • Option Exercise Price: $0.45 per common share.
  • Option Expiry Date: January 13, 2028.
• Regulatory Filings:
  • Canada: Qualified for sale via an amended and restated short form prospectus dated January 7, 2026, filed in British Columbia, Alberta, and Ontario.
  • United States: Purchased via private placement pursuant to exemptions from registration requirements under the U.S. Securities Act of 1933 and applicable state securities laws.

Notable Quotes

• "This offering positions Conavi to initiate a targeted market release of Novasight, following U.S. FDA clearance. The strong participation from U.S. strategic health care investors reflects confidence in our technology and commercial strategy, as well as growing interest in intravascular imaging technologies. The proceeds will support our commercialization efforts and continued advancement of our intravascular imaging platform." — Tom Looby, President and Chief Executive Officer