• Entitlement Offer Shortfall of 26.4 million shares placed, raising A$7.4 million
• Capital raising to fund Phase 3 clinical trials for topical treatments in Indonesia and Australia
• Pro-forma cash balance of A$16.0 million post-capital raising

Recce Pharmaceuticals Ltd (ASX:RCE, FSE:R9Q) has received firm commitments to place all of the shortfall shares from its recent 1-for-6 pro-rata non-renounceable entitlement offer, completing a capital raising of A$15.8 million (before costs). The capital raising consisted of a A$5.0 million private placement, A$3.4 million raised under the entitlement offer, and A$7.4 million under the shortfall placement. The funds will be used to support significant Phase 3 clinical trials for topical treatments in Indonesia and Australia, progress the company through to commercialisation, and file an Investigational New Drug Application with the US FDA. Recce has a pro-forma cash balance of A$16.0 million following the capital raising, excluding an additional estimated R&D rebate of A$8.5 million and non-dilutive capital via an R&D advance of approximately A$10.0 million. The successful completion of the capital raising demonstrates ongoing support from Recce's existing institutional and sophisticated shareholders, and the funds will be crucial in advancing the company's anti-infective pipeline towards commercialisation.

The completion of the capital raising supports a critical step forward as Recce commences its Phase 3 trials. The outcome of these trials represents a potential major inflection point for the company, with the opportunity to advance a new standard of care in infectious diseases and offer improved outcomes for patients.