By Laura Lutz
Des Moines, Sept. 21 - Bionomics Ltd. raised A$5.04 million in a private placement of shares to institutional and sophisticated investors.
The company sold 36 million shares at A$0.14 each. That price was a 6% discount to the seven-day volume weighted average price of the stock prior to the pricing day.
The placement was co-managed by Intersuisse Corporate Pty. Ltd. and Linwar Securities Pty. Ltd.
The company will issue 16,857,145 of the shares by Sept. 29. The issue of the remaining shares is subject to shareholder approval at an annual general meeting on Nov. 9.
Proceeds will be used for the company's anticancer drug BNC105 and for its epilepsy, anxiety and multiple sclerosis research programs.
Based in Thebarton, South Australia, Bionomics develops small-molecule drugs to treat cancer and nervous system disorders.
| Issuer: | Bionomics Ltd.
|
| Issue: | Stock
|
| Amount: | A$5.04 million
|
| Shares: | 36 million
|
| Price: | A$0.14
|
| Warrants: | No
|
| Managers: | Intersuisse Corporate Pty. Ltd and Linwar Securities Pty. Ltd.
|
| Announcement date: | Sept. 21
|
| Stock symbol: | Australia: BNO
|
| Stock price: | A$0.155 at close on Sept. 20
|
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