Immutep Limited ACN 009 237 889 (ASX: IMM) (Immutep or Company) is pleased to announce that it has launched an equity raising (Offer) through a fully underwritten pro rata accelerated nonrenounceable entitlement offer (Entitlement Offer) and a placement to institutional investors (Placement).
Key highlights
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The Company is seeking to raise approximately ~A$80 million to expand and advance its clinical portfolio and strengthen its balance sheet.
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The Offer will comprise a fully underwritten institutional placement to raise ~A$50 million and an accelerated non-renounceable pro rata entitlement offer to eligible Immutep shareholders to raise ~A$30 million.
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Bell Potter Securities Limited, Jefferies (Australia) Pty Ltd and Wilsons Corporate Finance Limited are acting as joint lead managers and underwriters to the Offer.
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Following completion of the Offer Immutep is expected to be fully funded for its current and expanded clinical program through to Q1 2026 with a pro-forma cash balance of $135.2m1
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Funds raised under the Offer will be applied towards the Company's registrational Phase III TACTI004 trial to interim results2 , final read-out from the Phase IIb TACTI-003 study, AIPAC-003 Phase II read-outs and potentially a first-in-human trial for IMP761.3
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The Company is attracting significant industry interest across the globe, with multiple late-stage clinical trials advancing rapidly and key milestones approaching.
The Offer
Immutep has today announced a fully underwritten Offer of ~A$80 million comprising the Placement and an Entitlement Offer.
The Placement and Entitlement Offer are expected to result in the issue of approximately 308 million new fully paid ordinary shares in Immutep (New Shares), representing approximately 35% of Immutep's existing fully paid ordinary shares (Shares) on issue. Each New Share issued under the Placement and the Entitlement Offer will rank equally with existing shares in the Company on issue.
For more information, download the attached PDF.
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