Pharmaxis Announces A$24m Placement
6th
Aug 18
Release Date: 06/08/2018 8:30am
Highlights:
- A$24.0m being raised in a two tranche placement to global sector specialist and institutional investors
- A$54m pro-forma cash balance post raising. Strengthened balance sheet to assist with LOXL2 partnering negotiations expected in 2H18 Issue price of A$0.325 represents a 3.1% premium to last closing price
- Arix Bioscience plc invests A$14.2m for a 11% holding in the Company
- Existing shareholder BVF Partners LP invests A$7.1m to increase its holding to 22.9%
- Arix Investment Director Edward Rayner to be nominated to join the Pharmaxis Board
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