Recce Pharmaceuticals Finalizes Placement with 150,000 Shares Issued at $0.40 to Sophisticated Investors

Completion of Final Placement Tranche from 26 June 2026

Recce Pharmaceuticals announced on 3 July 2026 that it has issued the remaining 150,000 fully paid ordinary shares from its placement first disclosed on 26 June 2026. These shares were priced at $0.40 each and allocated to sophisticated investors, completing the outstanding balance of the capital raising under that placement.

Prior to releasing the cleansing notice, the company submitted the required Appendix 2A to the ASX, fulfilling procedural requirements associated with the share issuance. This sequence of filings is standard for Australian-listed companies completing placements to sophisticated investors and confirms that all administrative obligations for this tranche have been met.

Implications of the $0.40 Issue Price for the Placement

The shares were issued at $0.40 per share, consistent with the price set in the broader placement announced on 26 June 2026. While this update does not restate the total size of the original placement, the 3 July issuance specifically represents the residual portion not previously settled.

The gross proceeds from this tranche alone amount to $60,000. The company did not disclose the aggregate amount raised across the entire placement in this update; investors should refer to the original 26 June 2026 announcement for full details.

Role of the Cleansing Notice Under Section 708A in Enabling Share Trading

A key component of this update is the filing of a cleansing notice pursuant to section 708A(5)(e) of the Corporations Act 2001. Under Australian securities law, shares issued without a prospectus or product disclosure statement—such as those placed to sophisticated investors—are typically subject to resale restrictions unless a cleansing notice is provided confirming compliance with continuous disclosure and financial reporting obligations.

By lodging this notice, Recce Pharmaceuticals affirmed that as of 3 July 2026, no "excluded information" as defined in sections 708A(7) and 708A(8) of the Corporations Act has been withheld from the market. This legal declaration confirms that all material information relevant to investment decisions has been publicly disclosed, allowing sophisticated investors to sell these shares without requiring a disclosure document.

Confirmation of Compliance with Continuous Disclosure Requirements

Within the cleansing notice, Recce Pharmaceuticals explicitly confirmed adherence to Chapter 2M of the Corporations Act, which governs financial reporting for disclosing entities, as well as sections 674 and 674A, which impose continuous disclosure obligations on ASX-listed companies. This confirmation is mandatory for the cleansing notice to take effect under section 708A(6).

This declaration reinforces that Recce has fulfilled its disclosure responsibilities at the time of share issuance. For investors, the company’s assurance that no excluded information exists is a critical safeguard within the Australian regulatory framework for capital raisings via placements.

Recipients of Shares: Sophisticated Investor Classification

The 150,000 shares were allotted to sophisticated investors, a category under the Corporations Act typically encompassing institutional investors, high-net-worth individuals, and professional investors meeting specific financial criteria. Issuing shares to this group allowed Recce Pharmaceuticals to bypass the need for a formal disclosure document such as a prospectus, a common practice for capital raisings of this nature.

This exemption facilitates faster capital market transactions by reducing the time and expense associated with preparing formal disclosure materials. The placement was conducted under Part 6D.2 of the Corporations Act, with the cleansing notice enabling the resulting shares to be freely traded on the secondary market, an important consideration for recipients wishing to sell their holdings.

Recce Pharmaceuticals’ Dual Listing on ASX and Frankfurt Stock Exchange

Recce Pharmaceuticals is listed on the Australian Securities Exchange under ticker RCE and on the Frankfurt Stock Exchange (FSE) under ticker R9Q. This dual listing provides access to both Australian and European investors, which is relevant when conducting capital raisings and expanding institutional interest in its pharmaceutical development programs.

The Frankfurt listing reflects the company’s engagement with European investors interested in its antimicrobial pipeline. Although this update focuses on the domestic ASX placement and associated cleansing notice under Australian law, information released to ASX is also pertinent to investors monitoring Recce through the FSE.

Context of Capital Raising Since 26 June 2026

The shares issued on 3 July 2026 relate directly to the placement announced on 26 June 2026. This update does not restate the full terms, size, or strategic rationale of that placement but confirms that the 150,000 shares represent the remaining unsettled portion from that capital raising.

With this tranche completed, the placement cycle tied to the 26 June announcement is closed. Investors will likely focus on future disclosures regarding the use of funds, particularly in advancing Recce’s synthetic antibiotic programs, which have been identified as the company’s primary research and development focus. No specific use of proceeds was disclosed in this update.

Board Approval and Company Secretary’s Role in Cleansing Notice Release

The update was approved by the Recce Pharmaceuticals Board, with Maggie Niewidok, the Company Secretary, designated as the contact for inquiries. The Company Secretary’s involvement ensures compliance with ASX Listing Rules, the Corporations Act, and internal governance obligations.

Board approval highlights the importance placed on the accuracy and completeness of the cleansing notice. The confirmation of no excluded information and fulfillment of continuous disclosure obligations carries legal significance, reflecting a thorough governance process prior to public release.

Share Price Impact and Investor Outlook

No immediate share price impact was evident from publicly available information at the time of this update. Issuing 150,000 shares at $0.40 as part of a previously announced placement is a routine procedural step, and market participants may have already incorporated this into valuations following the original 26 June 2026 announcement.

Going forward, investors are expected to monitor Recce Pharmaceuticals for updates on capital deployment from this and the broader placement, progress on clinical or regulatory milestones for its synthetic antibiotic pipeline, and any additional corporate developments. Since this update is procedural, substantive catalysts are more likely to arise from forthcoming announcements related to the company’s pharmaceutical development activities rather than from the completion of this capital raising.