- Clinical-stage biopharmaceutical company Dimerix (DXB) successfully completes its share purchase plan (SPP)
- The SPP was heavily oversubscribed from the targeted amount of $2 million and as a result Dimerix increased the total amount to $4 million
- This follows the company’s recently completed placement which successfully raised $20 million
- Dimerix previously stated it would use the money to fund the phase three trial in focal segmental glomerulosclerosis
- Dimerix is up 0.83 per cent, with shares trading at 30.3 cents at 12:16 pm AEST
Clinical-stage biopharmaceutical company Dimerix (DXB) has successfully completed its share purchase plan (SPP).
The SPP was heavily oversubscribed from the targeted amount of $2 million and as a result Dimerix increased the total amount to $4 million.
As a result of the oversubscriptions, Dimerix will scale back applications in accordance with terms of the SPP.
Approximately 20 million ordinary shares will be issued at 20 cents each as well as 10 million attaching unlisted options.
Shares were expected to be issued on October 5 and begin trading on the ASX on October 6.
This follows Dimerix’s recently completed placement which successfully raised $20 million.
Roughly 100 million fully paid ordinary shares were issued to institutional, sophisticated and professional investors at 20 cents.
Participants also received one new share for every two subscribed for.
Dimerix previously stated it would use the money from the placement and SPP to fund the DMX-200 phase three trial in focal segmental glomerulosclerosis.
Money will also go towards the distribution and logistics for a DMX-200 clinical trial and preparing and submitting regulatory applications.
Dimerix was up 0.83 per cent, with shares trading at 30.3 cents at 12:16 pm AEST.