RAD Completes A$12.5M Placement and Launches A$6M SPP
Key points
- Radiopharm completes A$12.5M capital raising
- Offers A$6M SPP to eligible shareholders
- Funds to support clinical trials and strategic partnerships
- Strong support from international institutional investors
Full summary
Radiopharm Theranostics Ltd. has successfully completed a strongly supported A$12.5M institutional capital raising, comprising an A$6.7M Australian and international placement and a concurrent US$4.1M (approximately A$5.8M) US Direct Registration Offering. The company also launched a Share Purchase Plan (SPP) for existing shareholders to raise up to A$6M. The capital raised will support the preparation for the RAD101 registrational Phase 3 study, the completion of RAD 204 dose escalation, and the progression of other therapeutic programs. The company has received commitments from investors to subscribe for up to A$3M of any shortfall under the SPP.
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