Onward Medical Launches capital increase for gross proceeds of € 50m

Onward announced the launch of a capital increase by way of a bookbuild offering through a private placement with institutional investors intending to raise gross proceeds of approx. € 50m. The capital raise is expected to be anchored by multiple long-only institutions, including existing and new shareholders. Onward expects to use the net proceeds towards development of the implantable ARC-IM system (40%) and to support commercialisation of the external ARC-EX device in upper limb function in SCI patients (30%) as well as to fund working capital, admin, and financing costs. The net proceeds are expected to extend the company's cash runway through at least end of 2026 (previously into 1H26).