CHM has announced a capital raise of up to AU$10 million through a non-renounceable entitlement offer.
The offer price is AU$0.028 apiece, representing a discount of 31.7% to yesterday’s (24 October 2023) closing price.
The proceeds will be used to advance the drug development program, including four ongoing clinical trials in cell therapy.
Chimeric Therapeutics Limited (ASX: CHM) seeks to raise up to AU$10 million through a two-for-three non-renounceable entitlement offer (before direct offer costs).
Under the entitlement offer, eligible shareholders can subscribe for two Chimeric shares for every three existing shares held by them as of 30 October 2023 at 7 PM (Sydney time) at the offer price of AU$0.028 apiece.
The proceeds from the capital raise will be used for advancing CHM’s drug development campaign, with four ongoing clinical trials in cell therapy.
CHM’s directors intend to take part in the entitlement offer.
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