Chimeric Therapeutics (ASX:CHM, “Chimeric” or the “Company”), the only ASX-listed clinical stage cell therapy company, announces the successful completion of its Securities Purchase Plan (SPP) announced on 15 May 2023, which closed on 16 June 2023.
Additionally, the Company is pleased to announce a share placement agreement (Placement Agreement) to provide initial funding of $3.1 million and total funding of up to $10.1 million with Lind Global Fund II, LP an entity managed by New York-based The Lind Partners (Lind). Lind invests in small and mid-cap companies publicly traded in the US, Canada, Australia and the UK.
Highlights
-- CHM has completed its SPP with valid applications of ~$1.5 million received. The SPP follows a ~$1 million Placement announced on 15 May 2023 (Placement). The SPP shares are due to be issued on 23 June 2023.
-- Up to $10.1 million investment by US institutional investor, Lind via a Placement Agreement. Under the Placement Agreement, CHM will receive an initial $3.1 million with up to a further $7 million in funding available by mutual agreement and subject to shareholder approval.
-- The Placement Agreement is a staged private placement over a 24-month period, unless extended.
-- As part of CHM’s broader funding arrangements, the Equity Placement Agreement announced on 9 June 2022 has been terminated in accordance with its terms.
-- Funds raised will support the clinical trial pipeline and therapy portfolio and otherwise for general working capital of the Company.
For more information, download the attached PDF.
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