Volpara Health Technologies is in the market for a $10 million equity injection.
The company's shares went into a trading halt on Friday morning as its broker Morgans contacted potential buyers.
Brokers was seeking investors for a $7 million placement at 60¢ a share, which would be followed by a one-for-20 rights issue to raise another $3 million.
The offer was priced at a 28.1 per cent discount to the last close.
Funds raised were to accelerate business development and sales, according to terms sent to potential backers.
Volpara is a New Zealand-based company that develops products to improve clinical decision making for the early detection of breast cancer.
The company had a $103 million market capitalisation prior to the equity raising and only listed in April 2016.
