• SPP successfully completed with oversubscribed applications of $3.4m accepted
• Total capital raised of $18.4m under both the SPP and recent placement to institutional and sophisticated investors
• BARD1 is now well funded with a pro forma cash balance of approximately $22.0m to advance its diagnostic programs towards key development and commercialisation milestones over the next 2 years
Melbourne, Australia, 23 August 2021: BARD1 Life Sciences Limited (ASX:BD1) (BARD1 or the Company) is pleased to announce that it has successfully completed the Share Purchase Plan (SPP) announced on 23 July 2021, with applications accepted for $3.4 million, including oversubscriptions. The Company was seeking to raise up to $2.0 million through the SPP. However, given the strong support for the SPP by eligible shareholders, the BARD1 Board has exercised its discretion to accept $3.4 million.
The SPP provided eligible shareholders with the opportunity to purchase new ordinary shares on the same terms as the recently completed placement to institutional and sophisticated investors (Placement) at $1.55 per share. The Placement was completed on Thursday, 29 July 2021 with a total of $15 million raised and 9,677,420 fully paid ordinary shares (Shares) issued that commenced trading on the ASX on 30 July 2021.
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