Recce Pharmaceuticals Finalizes Placement with 150,000 Shares at $0.40 Amid Upcoming SPP and Options Prospectus

Key Points<\/h3>

• Company: Recce Pharmaceuticals Ltd (ASX:RCE)<\/li>
• Admission of 150,000 ordinary fully paid shares on 3 July 2026 at $0.40 per share<\/li>
• These shares complete the placement announced on 26 June 2026<\/li>
• Total quoted ordinary shares now 299,468,821<\/li>
• SPP opens 6 July 2026; one free-attaching unlisted option granted for every two new shares issued under Placement and SPP<\/li>
• Prospectus for Attaching Options and Piggyback Options to be lodged with ASIC and ASX in coming weeks<\/li>
• Investors should watch for SPP results, total capital raised, and prospectus lodgement<\/li> <\/ul> <\/div>

  Recce Pharmaceuticals Completes Placement with 150,000 Shares Issued at $0.40 Each<\/h2>

  Recce Pharmaceuticals Ltd has formally applied for the ASX quotation of 150,000 fully paid ordinary shares issued on 3 July 2026 at $0.40 per share. These shares represent the remaining balance of the placement first announced on 26 June 2026 via an Appendix 3B filing.<\/p>

  The issue price of $0.40 aligns with the original placement terms. The gross proceeds from this tranche amount to $60,000. The company did not disclose the total value of the entire placement in this update; investors should consult the initial Appendix 3B lodged on 26 June 2026 for full details.<\/p>

  Total Ordinary Shares Reach 299,468,821 After Quotation<\/h2>

  Following the admission of these shares, Recce Pharmaceuticals’ total quoted ordinary share capital stands at 299,468,821 fully paid shares, as reflected in the Appendix 2A form. This figure accounts for the shares issued under this placement tranche.<\/p>

  The company’s share count has increased significantly due to the capital raising activities initiated in late June 2026. While the pre-raise share count was not disclosed, this post-quotation number provides a reference point for shareholders assessing dilution, which will further evolve with the upcoming SPP.<\/p>

  Share Purchase Plan Launches 6 July 2026 for Eligible Shareholders<\/h2>

  Recce Pharmaceuticals confirmed the opening of a Share Purchase Plan on 6 July 2026, allowing eligible shareholders to subscribe for new shares. The SPP is part of the broader capital raising announced on 26 June 2026 and follows the completion of the placement tranche now admitted to quotation.<\/p>

  Specific terms and maximum subscription limits of the SPP were not included in this update. Eligibility typically depends on the shareholder register as of a designated record date. Shareholders should await the SPP offer documents for full details.<\/p>

  One Free-Attaching Unlisted Option for Every Two New Shares Issued Under Placement and SPP<\/h2>

  A key feature of the capital raising is the attaching options arrangement. Eligible participants receiving new shares under both the Placement and SPP will receive one free-attaching unlisted option for every two new shares issued. This incentive is commonly used by Australian listed companies to add value for investors.<\/p>

  The exercise price and expiry date of these Attaching Options were not disclosed in this filing. Investors should refer to the original 26 June 2026 placement announcement or await the forthcoming prospectus for detailed terms. These options will initially be unquoted on the ASX.<\/p>

  Piggyback Options Provide Additional Optionality in Capital Structure<\/h2>

  Alongside the Attaching Options, the company will issue two unlisted Piggyback Options automatically upon the valid exercise of each Attaching Option. This layered structure allows investors exercising Attaching Options to gain further options, enhancing participation opportunities.<\/p>

  Terms for the Piggyback Options, including exercise price and expiry, were not disclosed. A prospectus facilitating secondary trading of shares issued upon exercising both Attaching and Piggyback Options will be lodged with ASIC and ASX in the coming weeks, providing essential information for option holders.<\/p>

  Prospectus for Options to Be Lodged with ASIC and ASX Soon<\/h2>

  Recce Pharmaceuticals has announced plans to lodge a prospectus covering the Attaching and Piggyback Options with ASIC and ASX in the near future. This is a regulatory requirement to enable secondary trading of shares issued upon exercising these options.<\/p>

  Until the prospectus is lodged and the options or shares are admitted to quotation, these instruments will remain unquoted and not tradable on the market. The timing of this prospectus lodgement will be a critical milestone for investors.<\/p>

  Overview of Recce Pharmaceuticals’ Unquoted Securities<\/h2>

  The update provides details on the company’s unquoted securities as of the application date, including: 435,000 options expiring 11 February 2027 at $1.56 (RCEAW); 2,623,333 options expiring 7 November 2029 at $0.56 (RCEAO); 1,125,000 options expiring on various dates and prices (RCEAU); 11,500,000 options expiring 14 November 2029 at $0.80 (RCEAP); and 4,634,304 warrants (RCEAQ).<\/p>

  This extensive options register reflects multiple historical capital raises and incentive schemes. The large number of outstanding options, particularly the 11,500,000 RCEAP options and 4,634,304 warrants, represents potential dilution if exercised. Investors should consider these when evaluating the company’s fully diluted capital structure.<\/p>

  Placement Linked to 26 June 2026 Appendix 3B Announcement<\/h2>

  The shares admitted to quotation are linked to the Appendix 3B lodged on 26 June 2026 at 10:19 AEST titled "New 06 Proposed issue of securities 06 RCE," which described the placement transaction. The current Appendix 2A filing formally closes the placement by confirming quotation of the final 150,000 shares.<\/p>

  This sequence—Appendix 3B followed by Appendix 2A—is the standard ASX procedure for completing placements. Additional issues remain outstanding, including SPP shares and associated options, so further Appendix 2A applications are expected.<\/p>

  Investor Focus as Capital Raising Continues<\/h2>

  With the placement tranche now quoted, attention will turn to the SPP opening on 6 July 2026. The uptake level under the SPP will influence the additional capital raised and the number of new shares and Attaching Options issued. Strong SPP participation would signal shareholder confidence, while weaker demand might indicate caution. The company has not provided forecasts for SPP uptake.<\/p>

  The immediate impact on the share price was not disclosed. Key upcoming events include the SPP closing and results, prospectus lodgement for the options, quotation of SPP shares, and eventual exercise of options. This update focuses solely on the administrative completion of the placement tranche without operational or clinical updates.<\/p>