Imugene Ltd (IMU AU) announced A$80 million institutional placement at A$0.20/ share, representing 11.1% discount to last close on September 9, 2022. Shares issued represent just 6.8% of existing shares.
The company will have a pro-forma cash position of ~A$175 million on completion of the Placement, funding the company’s broad clinical pipeline of three platform technologies.
For every two new shares subscribed for under the placement, Imugene intends to issue one free new option. The options issued will provide A$66 million in funding, if fully exercised.
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