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https://assets.website-files.com/61947d47ec3d405195f23d06/6350832a65930ab6d41b7da2_Successful%20Completion%20of%20Institutional%20Entitlement%20Offer.pdf

Successful Completion of Institutional Entitlement Offer and
Launching Fully Underwritten Retail Entitlement Offer

20 OCTOBER 2022

• Successful completion of the institutional component of the accelerated non-renounceable entitlement offer originally announced on 19 October 2022, raising approximately $5.5 million
• Bell Potter Securities Limited has committed to fully underwrite the retail component of the Entitlement Offer of approximately $4.5m, providing certainty that approximately $10.0 million will be raised under the Offer
• Proceeds raised from the Entitlement Offer provides the Company with runway until at least the end of 2023, including 3 new assets acquired since IPO
• As announced on 18 October 2022, Radiopharm’s Pivalate delivers positive Phase 2a data in its brain mets trial
• The Company is expected to have five fully funded Phase 1 clinical trials underway by the beginning of 2023, whilst progressing Pivalate into late-stage trials in the US

Radiopharm Theranostics Limited (ASX:RAD, “Radiopharm” or the “Company”), a developer of a world-class platform of radiopharmaceutical products for both diagnostic and therapeutic uses is pleased to announce that it has successfully completed the institutional component of the accelerated non-renounceable entitlement offer (Institutional Entitlement Offer) originally announced on 19 October 2022, raising approximately $5.5 million at a price of $0.14 per share.

The retail component of the entitlement offer (Retail Entitlement Offer) will open on 25 October 2022. A maximum of approximately $4.5 million may be raised under the Retail Entitlement Offer. The Company held an investor webinar on Tuesday 18 October 2022, regarding the positive Phase 2a data from Imperial College London’s F-18 Pivalate technology. Please use the following link for access to a recording of the webinar.



Institutional Entitlement Offer

The Institutional Entitlement Offer was strongly supported by existing shareholders and new professional and sophisticated investors. Shares issued under the Institutional Entitlement Offer will be issued at the same price as the Retail Entitlement Offer ($0.14 per share) with a one for one free attaching Option per new Share subscribed for, expected to be allotted on 26 October 2022.

Radiopharm Executive Chairman, Paul Hopper commented: “We are thrilled to have delivered a positive Phase 2 trial readout in brain mets which has a significant unmet clinical need just 11 months since IPO. Whilst the Company has spent $2m less than forecast in its IPO Prospectus it has also acquired three exciting new platform technologies since IPO. Post raising the Company is expected to have $36.9m of cash and we look forward to 2023 where we expect to have five Phase 1 clinical trials underway and have progressed Pivalate into late-stage trials in the US, subject to a positive Type C meeting with the FDA in early 2023.”