Media Releases › Arovella Therapeutics

• 1 for 3 renounceable rights issue to raise up to $3.44 million
• Attractively priced at 0.4 cents per share
• Partially underwritten to $1.0 million
• Discount of 38% discount to the 5-day VWAP and 29% to the 30-day VWAP
• For every 2 new shares issued, shareholders will receive one new option
• New options will have exercise price of 1.5 cents, term of two years and will be listed
• Shareholders can trade their rights and apply for additional shares from the shortfall
• Rights to commence trading from 5 June 2019
• Director to take up entitlement.