first couple para.Nicolab has been reaching out to investors in hopes of stitching up a $10 million raise that would be structured as preference shares. Sources said the biotech was willing to pay a 15 per cent accruing dividend that would be capitalised, in addition to standard preference rights for new shares issued under the raise.
The latest round is expected to value Nicolab at about $130 million, which would close to the valuation that it fetched in mid-2021. Stockbroker Ord Minnett is understood to be arranging investor meetings this time around, a change from Morgans which helped the company raise $15 million in May.
