PharmAust Raises $2.4m in Placement • PharmAust raises $2.4...

PharmAust Raises $2.4m in Placement
• PharmAust raises $2.4 million through a placement to institutional and sophisticated
investors
• Offer price of 12 cents per new share represents a 7.5% discount to the 30-Day VWAP
• Placement funds will be used for the progression of the human trial programme,
including further development of formulation and manufacture of additional tablets
3 October 2019: PharmAust Limited, (ASX: PAA), a clinical stage oncology company, is pleased to
announce it has received commitments to raise approximately $2.4 million through a Placement.
The Placement was granted primarily to Australian and Singaporean fund management institutions.
The strategic value that these new institutional investors bring to the Company’s share register will be
significant. Remaining shares from the Placement went to Australian sophisticated investors.
Funds were raised via a placement of approximately 20 million fully paid ordinary shares under ASX
Listing Rule 7.1 at $0.12 cents per share. This represents a discount of 7.5% to the 30-Day VWAP of
$0.1293 cents per share.
PharmAust Executive Chairman Dr Roger Aston said “We are delighted with the outcome to the
Placement, which has secured interest from new investors who recognise the value in the company.
Proceeds will be used to accelerate human clinical trials of monepantel, the company’s lead drug
candidate, and strengthen working capital.”
JP Equity Partners acted as lead manager to the Placement.

... good move imo...