In a latest update, SUDA Pharmaceuticals Ltd (ASX:SUD) has announced a non-renounceable entitlement offer of fully paid ordinary shares to raise ~$3.56 million. SUDA is also offering its shareholders 1 option for every 3 New Shares issued with an expiry date of 31 July 2022 and an exercise price of $0.05.
SUDA has also provided the following details with regards to the Entitlement Offer:
- Offer price of $0.025 per share
- Offer price represents a 34 per cent discount to 15-day VWAP
- The proceeds of the Entitlement Offer will be used towards the development of SUDA’s Anagrelide and the remaining OroMist® assets, the potential acquisition and development of new assets, and general working capital.
SUDA’s stock traded at $0.036 as at 12:04 PM AEST.
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