Clarity Pharmaceutical IPO: How to buy this medical company’s stock

Summary

  • Shares of Clarity Pharmaceuticals would begin trading publicly on the ASX on 25 August 2021.
  • The radiopharmaceutical company is offering shares at AU$1.40 per share to raise gross proceeds of AU$92 million. A total of 65.7 million shares will be available under the initial public offering (IPO).
  • Investors can avail the shares under the Broker Firm Offer, the Institutional Offer and the Priority Offer. 

Shares of Clarity Pharmaceuticals would begin trading publicly on the ASX on 25 August 2021. As per the prospectus, Clarity, which has a proposed ASX code CU6, is offering shares at AU$1.40 per share to raise gross proceeds of AU$92 million. A total of 65.7 million shares will be available under the initial public offering (IPO).

The prospectus has detailed information about the IPO, the intellectual property owned by Clarity, the key risks associated with investing in the company and the industry within which it operates. The key risks associated with investing in Australia-based clinical stage radiopharmaceutical company are outlined in Section 5 of the Prospectus.

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READ MORE: How Do I Find Out About an IPO?

Bell Potter Securities Ltd and Jefferies (Australia) Pty Ltd are the lead managers to the IPO.

How to buy this medical company’s stock?

The offer is expected to raise gross proceeds from the issue of new shares by the company. Investors can avail the shares under the Broker Firm Offer, the Institutional Offer and the Priority Offer.

While the opening date for Retail Offer is 3 August 2021, the closing date is 10 August 2021. Thus, retail investors can participate in the Clarity Pharmaceuticals IPO between 3 August 2021 and 10 August 2021. Thereafter, one will have to wait till the company goes public to buy its shares.

Under the Broker Firm Offer, applicants should contact their brokers for a prospectus and an application form.

Under the Priority Offer, applicants apply by following the instructions in their personalised invitation for participation.

READ MORE: Excited about investing in IPOs? Here are few dos and don’ts

When will applicants get confirmation regarding the success of application?

It is expected that initial holding statements will be dispatched by standard post on or about Wednesday, 25 August 2021.

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The company also reserves the right not to proceed with the offer at any time before the allocation of shares to successful applicants.

About Clarity

Founded by Alan Taylor, Sydney-headquartered Clarity is developing next-generation products to address the growing need for the use of radiopharmaceuticals in the diagnosis and therapy of cancers in children and adults.

READ MORE: What is an IPO? Why does a company go public?

Earlier in 2020, in its pre-IPO funding round for AU$25 million, leading investment firms such as Sydney-based fund manager Firetrail Investments, Australian Unity, and GenesisCare invested in Clarity.

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