Noxopharm (ASX: NOX) announced the listing on 17 Jan 2020 on the ASX (ASX:NYR) of its spin-off company, Nyrada Inc (Nyrada).
The IPO Offer was fully subscribed, with A$8.5M being raised.
Nyrada is a U.S.-registered company, listing on the ASX as a foreign entity. Accordingly, its securities will trade as CHESS Depositary Interests (CDIs).
• On a fully diluted basis, Noxopharm post-listing will hold 26.9% shareholding in Nyrada. 7.1% of this shareholding is in the form of performance shares bearing the milestone of assets becoming clinic-ready.
• Noxopharm is represented on the Nyrada Board by Graham Kelly and Peter Marks, both of whom will serve as Non-Executive Directors.
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