bullish
Imugene (IMU AU) Placement: Extended Runway for Clinical Programs Pipeline at Modest Equity Dilution
317 Views18 Sep 2022 18:40
SUMMARY
- 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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Tina Banerjee
Global Healthcare Analyst
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