Cellmid rights issue raises $3.81 million with strong support and plans follow-on placement for additional $700,000 Its lead manager and underwriter received bids from institutional and professional investors in excess of the available shortfall. Together with the follow-on placement, the company will raise a total of $4,516,369 before costs Cellmid Ltd’s (ASX:CDY) renounceable rights issue has raised $3,816,369, with strong support from existing shareholders and new institutional and professional investors. Lead manager and underwriter Mahe Capital Pty Ltd received bids from institutional and professional investors in excess of the available shortfall. To accommodate a portion of the excess demand, the company has agreed to undertake a placement on the same terms as the rights issue, to raise an additional $700,000 as a follow-on.