Mesoblast taps Bell Potter for $98m equity raising
Street Talk
Biotech Mesoblast had its broker Bell Potter launch a $97.7 million equity raising on Friday morning to fund trials.
The offer was split into a $36.6 million placement and a $61.1 million rights issue. The latter was structured as a pro-rata accelerated non-renounceable entitlement offer on a one-for-four basis.
The 30¢ a share offer price was pegged at a 25.9 per cent discount to Mesoblast’s 40.5¢ last close. It represented a 20 per cent discount to the TERP.
Mesoblast told potential investors proceeds would be used to fund adult phase 3 trials for treatments for steroid-refractory acute graft versus host disease (a complication of bone marrow transplants) and chronic lower back pain.
Ann: Trading Halt, page-197
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