Acceptances, including the oversubscription facility, raised about $28.9 million, offering shareholders two new shares for every 15 already held.
With its half-year report due today, Pacific Edge will still be in red ink territory after a decade of trading, but is likely to have boosted its cash war chest well beyond $30 million.
From 47c per share in early October, Pacific Edge shares rocketed to $1.47 over a fortnight, then yesterday spiked to trade around $1.50.
Chief executive David Darling said yesterday shareholders who had ''consistently supported'' the company ''are now stepping up'' to ensure the commercialisation programme into the US had the financial resources for rolling out Cx-bladder; a non-invasive bladder cancer detection test about five to seven times cheaper than conventional testing.
Although the company has spent near $40 million since 2003 in research and development but
never turned a profit, Mr Darling remains confident Pacific Edge will be turning over $100 million annually within five years.
Yesterday's capital boost will be used to fund its marketing and sales programme in the lucrative United States health system, plus more marketing in Australia and Spain.
''Revenues are starting to progress as we penetrate those markets,'' Mr Darling said.
The rights issue was Pacific Edge's second, more than $20 million capital raising in the past two years.
Craigs Investment Partners broker Peter McIntyre said the rights issue was ''an extremely attractive offer'' to shareholders, being 55c per share, which at the time were trading beyond $1.
Pacific Edge chairman Chris Swan told shareholders at its annual meeting in Dunedin in October:
''The board is fully confident that the funds being raised will be sufficient to cover operating expenses, until Pacific Edge achieves profitability.''
Forsyth Barr broker Haley Van Leeuwen said the expected oversubscribed rights issue was a positive step towards Pacific Edge's continued growth into the US market.
The US ''Obamacare'' healthcare reforms now under way were positive for Pacific Edge in the longer term, she said, with larger numbers of Americans having access to health insurance and tests such as Cx-bladder.
''The US contracts Pacific Edge are signing up are with providers that are significantly larger than the entire New Zealand market,'' Ms Van Leeuwen said.
Of the 37 million new shares available, just 2 million went into the pool for oversubscriptions, but applications for 17.5 million additional shares were received.
In the latest in a string of positive announcements, Pacific Edge also announced separately yesterday that it had signed a third agreement with major US health provider network.
Stratose, which contracts with 850,000 healthcare providers with a client base of 8.6 million Americans.
Other providers announced since mid-October were FedMed, servicing 40 million people and America's Choice Provider Network and its 14 million clients.
Pacific Edge, which is scheduled to release its interim half-year report today, announced in early November the pro rata renounceable rights offer to eligible shareholders, looking to raise $20.5 million to fund its US sales strategy.
Between its labs in Pennsylvania and Dunedin, Pacific Edge has the capacity to build up to carrying out almost 300,000 tests annually.
