iSonea (ASX: ISN) has been granted a trading halt by the ASX pending the release of details for a proposed capital raising, with the company's shares placed in pre-open.
iSonea has not yet indicated where the potential capital injection will be allocated, but the company is currently in a very interesting position and just last week made another significant step in the transformation of the company with a move to list in the U.S. using American Depositary Receipts (ADR's).
The opportunity of the international listing provides a direct market for U.S. investors to gain exposure to iSonea's Acoustic Respiratory Monitoring (ARM™) technology.
Importantly there is already interest in the U.S. for investor exposure to iSonea, highlighted by the recent up to $10.6 million raised over a two year period from New York-based Bergen Global Opportunity Fund, LP.
The halt will last until the earlier of announcement being made to the market, or the opening of trade on Wednesday 16 November.