AVH .. an / out 2017 Non Renounceable Rights Issue Offer and...

AVH .. an / out

2017 Non Renounceable Rights Issue Offer and Shortfall Offer
As announced on 11 October 2017, Avita Medical Limited (Company) is undertaking a fully underwritten non renounceable pro-rata rights offer to the Company's shareholders (Offer). The Offer is open to all eligible shareholders of the Company who are on the share register as at 18 October 2017 (Record Date) and who have a registered address in Australia or New Zealand (Eligible Shareholder). The Company is seeking to raise a total of approximately $12.44 million from the Offer, on the basis that no more than approximately 276.5 million New Shares will be issued pursuant to the Offer. Proceeds raised from the Offer will be used by the Company to be applied for working capital purposes, including towards initial BARDA product procurement, US FDA approval, and the burns product launch across the US market.
On 11 October 2017 the Company also announced that it had commitments to place approximately 101 million shares to professional and sophisticated investors to raise a total of approximately $4.5 million at the same price as the issue price under the Offer (Placement).
Under the terms of the Offer, each Eligible Shareholder will have the right to subscribe for New Shares in the Company on the basis of a non-renounceable Rights Issue of 1 new shares for each 2.8 shares held as at the Record Date (rounded up to the nearest share) at a price of $0.045 per new share (Rights Issue Offer). You are the holder of unlisted options to purchase shares in the Company. The Rights Issue Offer is only available to holders of shares in the Company, and not with respect to shares that underly any options that have not been exercised.