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Highlights
- CHM has received commitments for the placement of entitlement offer shortfall of nearly AU$3.20 million.
- The total amount raised under the entitlement and the entitlement offer shortfall would be AU$7.66 million.
- The company is focused on advancing its clinical trials in acute myeloid leukemia (AML), gastrointestinal tumours and glioblastoma.
Chimeric Therapeutics Limited (ASX: CHM) has received commitments for the shortfall under the entitlement offer for around AU$3.20 million. Under the shortfall, 114,317,500 shares will be issued at AU$0.028 per share, which is similar to the price at which shares were issued under the entitlement offer.
Post the conclusion of placement of the shortfall, the company intends not to conduct any further shortfall under the entitlement offer.
About the entitlement offer
On 25 October 2023, the company had announced an entitlement offer under which the eligible shareholders got opportunity to apply for two shares for every three shares in CHM at a share price of AU$0.028 apiece.
On 7 December 2023, the company released entitlement offer results, announcing around AU$4.5 million under the capital raise.
With the finalisation of the placement of the shortfall, the company would raise around AU$7.66 million (before costs).
Use of funds
The company would use these funds to progress-
- Phase 1B clinical trial in glioblastoma,
- Phase 1A clinical trial in gastrointestinal tumours
- Phase 1B ADVENT-AML clinical trial
CHM shares traded at AU$0.029 apiece on 18 January 2024.