Radiopharm Theranostics (ASX: RAD) inks AU$12.5M share facility agreement with Lind - Kalkine Media

February 06, 2024 12:42 PM AEDT | By Sonal Goyal

Radiopharm Theranostics (ASX: RAD) inks AU$12.5M share facility agreement with Lind — Image source: Company website

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Highlights

Lind Partners, a US institutional investor, has invested up to AU$12.5 million in Radiopharm.

Under a share subscription agreement, the company will receive AU$1.2 million, and under a share purchase agreement, it will receive further AU$11.3 million.

The share purchase agreement is a staged placement.

Funds would aid the company’s clinical trial pipeline.

Radiopharm Theranostics Limited (ASX: RAD) has entered into a share subscription agreement and a share purchase agreement with Lind Global Fund II, LP, managed by US-based The Lind Partners.

The share subscription agreement provides a funding of AU$1.2 million, while the share purchase agreement is a staged placement of up to AU$11.3 million. Under the share purchase agreement, the funding will be provided through monthly instalments of AU$50k to AU$1 million, over an initial period of 12 months. The first instalment will be of AU$300,000.

The funds will be used to advance the company’s clinical trial pipeline.

Lind Partners invests in small and mid-cap companies which publicly trade in Australia, the UK, the US and Canada.

RAD shares traded at AU$0.064 apiece at the time of writing on 6 February 2024.

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