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- Clinical stage oncology company Prescient Therapeutics (PTX) is looking to raise $6.5 million via a share purchase plan (SPP)
- New shares will be offered at an issue price of 5.5 cents which represents a 15 per cent discount to the 10-day volume-weighted average price
- The SPP is underwritten to $4 million by Viriathus Capital and is raising funds to support the company’s clinical and preclinical programs
- PTX shares finished today’s session 13.6 per cent lower at 5.7 cents
Prescient Therapeutics (PTX) has launched a partially-underwritten share purchase plan (SPP) with the aim of raising up to $6.5 million.
The clinical-stage oncology company said the funds will support its various clinical and preclinical programs as well as provide working capital.
Eligible shareholders, as of the record date of Friday, July 24 2020, will be able to subscribe for up to $30,000 worth of new fully-paid ordinary shares at an issue price of 5.5 cents each.
This issue price represents a 15 per cent discount to the 10-day volume-weighted average price and a 16 per cent discount to the last closing price.
The SPP is underwritten to $4 million by Viriathus Capital and will open on July 28. Prescient expects new shares will be issued on August 24 and begin trading on August 26.
PTX shares finished today’s session 13.6 per cent lower at 5.7 cents.
