Imugene (ASX: IMU) raises AU$18.2M under share purchase plan

September 25, 2023 11:32 AM AEST | By Sonal Goyal

Imugene (ASX: IMU) raises AU$18.2M under share purchase plan — Image source: Company update

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Highlights

Imugene has closed the share purchase plan component of its capital raising program.

The proceeds would be used to fund the licence agreement with Precision Biosciences Inc. for azer-cel.

Under the share purchase plan, the company raised AU$18.2 million.

Imugene Limited (ASX: IMU) has closed a share purchase plan (SPP) along with the acquisition of the exclusive licensing rights to azer-cel.

Under the SPP, the company raised AU$18.2 million by issuing 325 million shares at AU$0.056 apiece issue price. The issue price reflects the lower of AU$0.084 and a discount of 2.5% to the five-day VWAP (volume-weighted average price) up to and including the last date of the plan.

SPP comprises one free option for every new share issued under the plan. The exercise price of the option is AU$0.118, and the expiry date is 31 August 2026. The company intends to quote the new options on the ASX.

The SPP was announced on 18 August 2023, following the completion of AU$35 million placement.

To know more about the capital raise, click here.

Data source: Company update

Shares up 4%

IMU shares were trading up by 4% to AU$0.052 at the time of writing on 25 September 2023.

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