Completion of $2.4 Million Rights Issue
Antisense Therapeutics Limited (ASX:ANP) is pleased to announce the successful completion of the Company’s 1:2 renounceable Rights Issue.
The number of new ordinary shares subscribed for by eligible shareholders and new applicants was 126,256,962 with 1:5 free attaching options. Subject to the terms of the Underwriting Agreement, the remaining 169,907,174 shares will be taken up by the Underwriter and Lead Manager to the Issue, Patersons Securities Limited, for a total raising of approximately $2.4 million before issue costs.
The net proceeds will be applied to moving ATL1103 (for growth and sight disorders) into clinical development and to implement the Company’s strategy to realise value from its other project assets in the form of licensing or partnering agreements.
Antisense Therapeutics wishes to thank all shareholders who participated in this Issue for their continued support of the Company and looks forward to providing updates in relation to the above development and licensing opportunities.
Allotment of securities is scheduled to occur on 9th December 2010.
The holding statements for shares and new options are expected to be dispatched on 10th December 2010.
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