Imugene Raises $8.7m

Imugene Limited (ASX code: IMU), a clinical stage immuneoncology company has received commitments to raise $8.7 million via a $6.7 million institutional placement and a $2.03 million fully underwritten entitlement offer. The proceeds from the offering will enable the Company to complete its Phase Ib/2 HERVaxx clinical trial along with further trial expansion and development of its clinical pipeline. The Placement is priced at $0.018 per new share to institutional and sophisticated investors (and 1 new option for every 2 new shares issued with an exercise price of $0.026 per new option exercisable on or before 30 November 2020), while the entitlement offer is a 1 for 21 non-renounceable entitlement offer (and 1 new option for every two New Shares issued) which is fully underwritten by Bell Potter Securities Limited.


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