• $12M two-tranche placement to institutional and sophisticated investors
• Up to $8M share purchase plan (SPP) for eligible shareholders
• Attaching options and piggyback options to be issued

Imugene Limited (ASX:IMU) has received firm commitments for a $12 million two-tranche placement of 66.7 million new shares at $0.18 per share to institutional and sophisticated investors. The placement was strongly supported by both existing and new domestic and international institutional investors. Imugene will also offer a share purchase plan (SPP) to eligible shareholders to raise up to a further $8 million on the same terms as the placement. The company has received commitments from institutional investors to subscribe for the shortfall of the first $4 million of applications under the SPP, meaning the minimum amount to be raised under the placement and SPP will be $16 million. Participants in the placement and SPP will receive one free attaching listed option for every new share subscribed, with an exercise price of $0.18 and expiration of 30 April 2027. If all attaching options are exercised, they would provide Imugene with up to $20 million in additional funding. The proceeds will primarily fund the ongoing development of azer-cel through the expansion of Cohort 2 and the new Cohort 3 (BTKi combination) of its Phase 1b trial. In conjunction with the capital raising, Imugene will redeem and cancel the existing convertible notes and enter into a subscription agreement with CVI Investments Inc. for second amended and restated new senior convertible notes and warrants.

The proceeds of the capital raising will primarily fund the Company's ongoing development of azer-cel through the expansion of Cohort 2 and the new Cohort 3 (BTKi combination) of its Phase 1b trial.

This capital raising positions Imugene to advance the clinical development of azer-cel, including expansion of the Phase 1b study and the evaluation of BTKi combination strategies.