Radiopharm Theranostics announces placement of entitlement offer shortfall

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In October last year, Radiopharm Theranostics (ASX:RAD) announced the details of a non-renounceable entitlement offer to raise approximately $10 million.

Under the Entitlement Offer, eligible shareholders were able to subscribe for one new fully paid ordinary share in the company for every 2.35 fully paid ordinary shares at the issue price of $0.07.

Radiopharm received valid applications under the offer for 30,197,244 new shares, raising approximately $2.1 million.

The company said it has received commitments totalling approximately $1.7 million for the shortfall under the offer. The 24,025,716 new shares will be issued at the same price per share as the entitlement.

Radiopharm CEO Riccardo Canevari said, “We would like to thank our existing and incoming investors for their support of our programs, our pipeline and our team"