Percheron Therapeutics (ASX:PER) will undertake a share purchase plan for eligible existing shareholders to allow them to participate in a recently announced institutional placement.
The share purchase plan (SPP) will be on the same terms as investors under the two-tranche institutional placement announced on 18 October 2024.
The SPP will be offered at $0.08 per share. This is a 14 per cent discount to the volume-weighted average price over the last five trading days before the announcement of the SPP. It is the same price as the institutional placement. The SPP will seek to raise a maximum of $2 million.
Individual applications for SPP shares will be capped at the statutory maximum of $30,000 per eligible shareholder across all their holdings. Percheron said the SPP will not be underwritten.