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1.4¢ chimeric therapeutics limited

Ann: Trading Halt, page-15

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Theman

331 Posts.

16

21/02/22

12:33

Post #: 59704624
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Originally posted by Theman: ↑

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.

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At first look, this is a horrible deal for investors. Was there any new deal or partnership alongside this raise or just more of the same?

Why raise at a record low price?

PH should have put up a $1m+

This is the definition of Incinerating capital.

CHM Price at posting: 20.0¢ Sentiment: Buy Disclosure: Held
6 Upvote

0 Great analysis

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