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Arovella Therapeutics - SPP Offer Booklet

On behalf of the board of Arovella Therapeutics Limited ACN 090 987 250 (ASX: ALA) (ALA or Company), we are pleased to offer you the opportunity to purchase up to $30,000 in additional shares in ALA (subject to any scale back) under this share purchase plan (SPP).

The Company today also announced a successful placement of 120 million fully paid ordinary shares to sophisticated investors at an issue price of $0.038 per share, raising $4.5 million (Placement).

The SPP will be available to shareholders who are on the Company register at 7.00pm (Sydney time) on 21 January 2022 (Record Date), and having a registered address in Australia or New Zealand (Eligible Shareholders).

The SPP aims to raise approximately $1.5 million, however the Company reserves the right to raise more or less than this amount in its absolute discretion.

The SPP gives Eligible Shareholders the opportunity to purchase additional shares in ALA at $0.038 per share, which represents a discount of 2.5% to ALA’s closing price on 19 January 2022. There are no transaction costs or brokerage costs to participating shareholders.

Subject to shareholder approval to be sought at an extraordinary general meeting to be called by the Company shortly (or the Company otherwise having the requisite capacity to issue any shortfall shares to the Underwriter), the SPP is underwritten up to $1,500,000 by Baker Young Limited (Underwriter), with a subunderwriting commitment by Merchant Biotech Fund up to $750,000 of the SPP. 

For more information, download the attached PDF.

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