Ann: Private Placement to raise Additional Working Capital, page-2

Private Placement to raise Additional Working Capital
The Board of Innate Immunotherapeutics Limited (ASX: IIL) (“Innate”) has resolved to make a private placement (“Placement”) to raise gross proceeds of A$2,000,000.
Innate intends to use the proceeds of the Placement for additional working capital beyond the planned release of Phase 2B trial results in the third quarter of 2017.
The Placement, which was oversubscribed, has been effected through Bell Potter Securities Limited as sole manager.
The Placement of 2,777,778 ordinary shares will be priced at A$0.72 per share which represents an 8.3% discount to the closing price for Innate shares on 15 March 2017 and a small premium to the volume weighted average market price calculated over the 20 days on which sales were recorded up to 15 March 2017. On completion of the Placement Innate will have 225,625,991 shares on issue.
It is anticipated that the Placement will be completed on Friday 24 March 2017.
As previously advised, the clinical phase of the Phase 2B trial of MIS416 is expected to be completed by the end of April 2017. The final Clinical Study Report should be released in late August or during September 2017. Initial 'topline' data may become available prior to the release of the final report and if so, this will be released to the market at that time.