Innate Immunotherapeutics Limited (ASX: IIL) (“Innate”) has closed a private placement (“Placement”) of 3,542,926 ordinary shares to sophisticated investors to raise approximately A$1,200,000.
The Placement completes a capital raising programme which over the past five weeks has comprised:
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A US Placement (approximately A$2,400,000) at US$0.18 per share;
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A non renounceable one for nine Rights Issue (A$3,026,610) at A$0.25 (or NZ$0.27) per share;
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The just completed Placement (approximately A$1,200,000) at US$0.26 (or A$0.34) per share.
Shareholder approval for both placements and for non-executive directors’ participation in them will be sought at Innate’s Annual General Meeting to be held on 31 August 2016. Subject to the relevant shareholder approval being given, participants in the placements are required to pay the subscription moneys by 3pm Sydney time on the 5th Business Day after the Annual General Meeting.
Assuming shareholder approval is forthcoming, the Company will have issued in total 25,658,396 new ordinary shares and raised approximately A$6,626,610.
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