Imugene taps existing investors for $30m with the help of Bell Potter
Imugene, the ASX-listed immuno-oncology group, is raising $30 million from investors at 8.4¢, a 10 per cent discount to its last trading price.
The company had Bell Potter raising the money from professional and sophisticated investors. It intends to offer shareholders the option of participating through a Share Purchase Plan, according to a deal sheet obtained by Street Talk. Imugene entered trading halt on Wednesday.
The money will be used to fund the acquisition of a license for Precision Biosciences’ azer-cel allogeneic cancer treatment.
Documents sent to potential investors noted that the treatment was “highly complementary” to Imugene’s existing portfolio. The company will have $196.6 million in cash following the capital raising, “with the potential for a further $45 million from the exercise of attaching options”.
Bids are due at close of business on Wednesday.
More to come
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