Cell therapy company Chimeric Therapeutics (ASX:CHM) says it has received commitments for a two-tranche placement to sophisticated and professional investors to raise $5 million before costs.
The company said the placement was at an issue price of $0.008 (0.8 cents) per new fully paid ordinary share.
The placement will raise approximately $5 million before costs via a two-tranche issue of approximately 625 million new fully paid shares with one unlisted option, with an exercise price of $0.008, expiring 12 months from the grant date.
Chimeric’s executive chairman, Paul Hopper, has committed to subscribe for 125 million Placement Shares (representing $1 million of the $5 million Placement) to be issued to him or his nominee, subject to shareholder approval.
The offer price ($0.008) represents a 42.9 per cent discount to the last closing price of $0.014 on 30 September and a 45.6 per cent discount to the 15-day volume weighted average price on 30 September.
Chimeric said the funds raised would support the ongoing development of its pipeline, including the Phase 1/2 trial of the CHM CDH17 CAR-T Program.