- Bionomics (BNO) is set to raise almost $16 million to support its upcoming phase 2b trial for patients with post-traumatic stress disorder
- The company will issue over 110.2 million shares at 14.5 cents each, a 20 per cent discount to the 30-day volume-weighted average price
- Once the placement wraps up, Bionomics will launch an entitlement offer so eligible shareholders may acquire new shares at the same price
- Additionally, Apeiron Investment Group founder and CEO Christian Angermayer has agreed to underwrite the raising to $15 million at a minimum price of 6 cents per share
- Bionomics ended the day 6.82 per cent in the green with shares closing at 23.5 cents
Bionomics (BNO) has received firm commitments from investors to raise almost $16 million through a placement.
Specifically, the clinical stage biopharmaceutical company will raise a total of $15,991,634. Under Listing Rule 7.1, Bionomics used its 15 per cent placement capacity to issue over 110.2 million shares.
The new shares will be issued at 14.5 cents each — representing a 20 per cent discount to the 30-day volume-weighted average price. The issue price also represents a significant 263 per cent premium to the capital raise completed in September 2020.
The money raised will support an upcoming phase 2b trial which will test Bionomics’ BNC210 drug therapy on patients with post-traumatic stress disorder (PTSD).
“We are pleased to have gained further support from overseas investors as we pursue a treatment for patients suffering from PTSD,” Executive Chairman Dr Errol De Souza said.
Once the placement has been completed, Bionomics will commence an entitlement offer so eligible shareholders may acquire new shares at the same price as the placement.
As part of a subscription agreement that was signed last year, Apeiron Investment Group agreed to recapitalise the company and assist with funding its PTSD trial.
As a result, Apeiron’s founder and CEO, Christian Angermayer, has agreed to underwrite the further raising to $15 million at a minimum price of 6 cents per share.
“We are pleased to support Bionomics both as an underwriter in this placement and as a long-term shareholder of the company. We look forward to participating in the entitlement offer alongside other investors,” Christian said.
“Bionomics’ lead drug BNC210 has already received fast track designation from the FDA and I am confident of the strong potential of the upcoming phase 2b PTSD trial to drive value for both patients and shareholders,” he added.
Bionomics ended the day 6.82 per cent in the green with shares closing at 23.5 cents.