".....Funded till CY 22. Last year cash burn of 22M and only probably 5-6 left now. They better do something quick. Running of fumes...."
ATM Facility Raises US$ 3.2 million (AU$ 4.6 million) in New Capital Kazia’s at-the-market (ATM) financing facility, operated by Oppenheimer & Company, has raised total proceeds to date of US$ 3.2 million (approximately AU$ 4.6 million), at an average price per ADS of US$ 5.94 (AU$ 0.85 per ordinary share), materially expanding the company’s runway with minimal dilution to existing shareholders. Aside from technical trial runs, the facility has been used on five occasions since its inception. On the most active day, the ATM accounted for 4% of the day’s trading volume, implying minimal price impact as a result of its use. Of note, shares issued under the ATM are issued at the spot market price, with no discount, no accompanying warrants or options, and with banking fees approximately half of those associated with more traditional financing methods...
As noted in the accompanying Appendix 4C, the company’s cash position as at 30 June 2022 was AU$ 7.36 million, versus AU$ 6.96 million at 31 March 2022, an increase of AU$ 0.4 million. The company calculates an operating runway on a forward-looking basis through 4Q CY2022.
