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Immuron Ltd to raise A$9.66 mln through fully underwritten rights issue


Tuesday, 21 Jan 2014 06:02pm EST 

Immuron Ltd:Provide an opportunity to its shareholders to participate in a renounceable pro-rata rights issue (the offer).Says the offer is to raise about A$9.66 mln before transaction costs and is fully underwritten.Says pursuant to the offer, the company expects to issue 1,931,745,402 new fully paid ordinary shares at an issue price of A$0.005 per new share.Says Patersons Securities Limited is lead manager and underwriter to the offer.Says BBY Limited is broker to the offer.Says it intends to use the net proceeds raised from the Offer to fund Phase 2B clinical trials for the treatment of Non-Alcoholic SteatoHepatitis (NASH), to continue the global commercialisation of Travelan.Says to repay the existing debt owed to Paladin, for general working capital purposes and to fund the development and commercialization of other Immuron products. 

Company Quote

0.0050
-0.0010 -16.67%
28 Jul 2014