Syntara Ltd Successfully Completes Share Purchase Plan
Key points
- Completed Share Purchase Plan with $0.84M in applications
- Issued 31,235,279 new shares at A$0.027 each
- Total funds raised before costs: approximately $8.84M
Full summary
Syntara Ltd, a clinical-stage drug development company, announced the successful completion of its Share Purchase Plan (SPP), raising approximately $0.84 million. The SPP offered shares at a 15.6% discount to the last closing price and a 17.6% discount to the 5-day volume weighted average price. A total of 31,235,279 new shares were issued. Combined with a previous $8.0 million placement, Syntara has raised approximately $8.84 million before costs. These funds will support clinical trial readouts, Phase 2b MF study preparation, patent suite strengthening, and offer costs. The company thanks shareholders for their support.
Guidance
Total funds raised: $8.84M; cash runway to Q3 2027
Outlook
Syntara aims to use the funds to progress clinical trials, strengthen its patent suite, and cover offer costs.
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