Racura Secures Support from Specialist Institutional Investor
Key points
- Specialist institutional investor provides funding via private placement
- Investor subscribes for 526,315 shares at a 23% discount
- Total funds raised amount to $31.2 million to support RC220 development
Full summary
Racura Oncology Ltd. is pleased to announce that a specialist institutional investor focused on emerging healthcare companies has provided additional funding via a small, strategic private placement. The investor has committed to subscribe for 526,315 fully paid ordinary shares in Racura at an issue price of $1.90 per share, reflecting a 23% discount to the average market price as of 3 June. This placement, combined with funds from the Piggyback and Bonus Options, has raised a total of $31.2 million to support the clinical development of RC220 and general working capital. The new shares will be issued using the Company's existing placement capacity under ASX Listing Rule 7.1.
Guidance
Total funds raised: $31.2 million for clinical development and working capital.
Outlook
The additional funding will support the clinical development of RC220 and general working capital needs.
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