SUCCESSFUL REGISTER REPOSITIONING COMPLETE
- Start-up Australia Ventures sells 60 million Bionomics shares at $0.57 to a wide range of domestic and international institutions.
- Bionomics successfully completes an institutional placement of 25 million shares at $0.57 per share.
- Placement 2.5x covered.
- Strong interest from a large number of highly credible new and existing domestic and international institutions.
- Placement proceeds provide Bionomics with strategic flexibility and strengthened position for partnering negotiations.
As previously announced to the market, Start-up Australia Ventures Pty Limited ("Start-up") completed a sell-down of 60 million shares in Bionomics Limited (ASX: BNO) (ADR: BMICY) at $0.57 per share overnight between 11 and 12 May 2011. The sale price was equal to the VWAP of Bionomics shares traded since the 30 March 2011 announcement of successful Phase Ib clinical trial results for Bionomics' anxiety drug candidate, BNC210.
In light of excess demand for the Start-up sell-down, Bionomics initiated, and has successfully completed, an institutional placement of 25 million new fully paid ordinary shares at the same price of $0.57 per share to raise $14.25 million.
The placement attracted strong interest from both new and existing domestic and international institutional investors.
