Cyclopharm Limited (“CYC” or the “Company”) is pleased to announce it has successfully completed a share placement (“Placement”) to institutional and sophisticated investors, of approximately 11.5 million new fully paid ordinary shares at $2.60 per share (“Placement Shares”) raising A$30.0 million before costs. The issue price represents a 4.1% discount to CYC’s 1-month volume weighted average share price (VWAP) prior to announcement of the capital raising of $2.71.
The Placement received overwhelming support from new and existing institutional and sophisticated investors including cornerstone participation from leading Australian institutions Perennial Value Management, Investors Mutual and Regal Funds Management.
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