Actinogen Medical Ltd Completes Underwriting of Unlisted Options
Key points
- Actinogen Medical Ltd issued 26,315,700 Shortfall Shares to complete underwriting
- Funding from options exercise provides $4,771,336.65
- Shortfall Shares issued do not require shareholder approval
- Additional funding extends cash runway until late CY2027 or early CY2028
Full summary
Actinogen Medical Ltd has completed the underwriting of unlisted options, issuing 26,315,700 Shortfall Shares to Forrest Capital Pty Ltd. This move follows the exercise of 127,235,644 Underwritten Options, providing the company with an additional $4,771,336.65 in funding. The Shortfall Shares were issued under ASX Listing Rule 7.2 Exception 10 and do not require shareholder approval or count towards the company's capacity under ASX Listing Rule 7.1. The additional funding is expected to extend the company's cash runway until late CY2027 or early CY2028, supporting ongoing operations and clinical trials.
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