Cell therapy company Chimeric Therapeutics (ASX:CHM) recently announced the investor participation in a non-renounceable entitlement offer to raise up to $3.2 million.
Under the Entitlement Offer, eligible shareholders could subscribe for two new fully paid ordinary shares in the company, and one new attaching option for every new share issued, for every five existing ordinary shares. The new shares will have an issue price of $0.005, and the new options will have an exercise price of $0.008 and an expiry date of 19 December 2025.
Chimeric received valid applications under the offer for 197,203,052 new shares, raising approximately $1 million.
Chimeric’s CEO, Dr Rebecca McQualter, said, “We are pleased with the continued support shown by shareholders in our recent rights issue. This additional funding provides us with further runway to progress our programs.”
The company said a shortfall of approximately 450,857,654 new shares and 450,857,654 options, representing an amount of approximately $2.2 million, remains. It said it can place the shortfall in accordance with the ASX listing rules within three months of the closing date of the offer.