Respiri (ASX:RSH) is set to raise AU$4 million via a share placement following the acquisition of the Orb Health business, according to a Monday filing with the Australian bourse.

The placement consists of two tranches, the first tranche of AU$2.7 million will be issued on March 10 and the second tranche of AU$1.3 million will issued on June 5, the filing said.

The shares will be issued under the company's existing placement capacity, with around 100 million shares to be issued at AU$0.04 per share, a discount of 16.7% from the company's last closing price on Feb.26.

RSP also intends to change its name to Vitasora Health, upon receipt of approval from its shareholder at an Extraordinary General Meeting.

Shares of the company rose past 4% at market close.