Key points
-- A$10M (before costs) institutional placement completed to support commercial rollout and further clinical program development
-- Strong endorsement of the opportunity offered by Next Science’s XbioTM technology and product suite
-- Share Purchase Plan to be launched on 4 March 2022 to raise up to an additional A$5m (before costs)
Sydney, Australia Thursday, 24 February 2022, Next Science Limited (ASX:NXS) (Next Science or the Company) is pleased to announce that it has successfully completed a two tranche placement to institutional and sophisticated investors raising A$10M (before costs) (Placement). The Placement received strong support from existing and new eligible investors and was managed by Canaccord Genuity and Wilsons.
Approximately 11.1 million shares will be issued under the Placement (New Shares), equivalent to 5.6% of Next Science’s total current shares on issue. The Placement is comprised of:
* A$6.0 million raised within Next Science’s placement capacity under ASX Listing Rule 7.1 (Tranche 1); and
* A$4.0 million commitment from major shareholder, Mr. Lang Walker, with completion conditional upon shareholder approval (Tranche 2), pursuant to ASX Listing Rule 10.11 as Mr. Walker is the beneficial owner of around 40% of Next Science’s issued capital.
For more information, download the attached PDF.
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