Via AFR Street Talk
ASX-listed Cancer cell therapy business Chimeric Therapeutics was asking its investors to stump up $18.1 million via a rights issue on Monday morning.
The offer was priced at 17¢ per share (15 per cent discount to the last close) under a one-for-3.15 pro-rata accelerated non-renounceable rights issue that would be split into institutional and retail legs.
It included a free option for every share with a 25.5¢ exercise price and 31 March, 2024 expiry for the institutional investors.
Potential investors were told Chimeric had seven assets, right clinical programs by 2023, and more than 10 disease areas in its advanced cell therapy portfolio and pipeline. And that biotech entreprenuer and Chimeric chair Paul Hopper would commit half a million dollars.
Bell Potter was the lead manager and Baker Young the co-manager.
Bids were due 5pm Monday.
(20min delay)