Bionomics (ASX:BNO) has announced the successful completion of the institutional component of its one for 12.54 pro-rata accelerated non‐renounceable entitlement offer.
The offer was announced on Thursday 24 September 2020. It said the accelerated institutional component of the offer raised approximately $893,235 at the offer price of $0.04 per new fully paid ordinary share in Bionomics.
The company said the completion of the institutional component represents the first stage of its entitlement offer that is is expected to raise approximately $2,173,320 before costs.
The company said net proceeds of the offer are intended to be used to partially fund a second phase two trial of BNC210 compound for the treatment of post-traumatic stress disorder.
Bionomics executive chairman Dr Errol De Souza said, “We are extremely pleased with the support for the Entitlement Offer from our existing institutional shareholders. The success of the Offer is testament to Bionomics shareholders’ confidence in the direction of the Company and the opportunities presented by progressing the development programme for BNC210 for the treatment of PTSD.”
The retail component of the offer is expected to open on Thursday 1 October and close on Thursday 15 October. Eligible retail shareholders can subscribe for one new share for every 12.54 Bionomics shares held at 6.30pm (Adelaide time) on the record date of Monday 28 September 2020.