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SUDA Pharmaceuticals Placement Raises $3.65m

SUDA Pharmaceuticals Ltd (ASX: SUD) is pleased to announce that the Company has received firm commitments for a capital raising by placing up to 96,163,997 ordinary shares to institutional and sophisticated investors, raising $3,654,231 before costs. The news follows the 18 June 2021 announcement that SUDA has acquired an exclusive global licence to an invariant natural killer T (iNKT) cell therapy platform from Imperial College London.

The capital raising was completed at $0.038 per share, representing a premium to the closing price of shares on 17 June 2021 (the last trading day before announcing the Offer). SUDA intended to raise a minimum of $3,000,000 in the capital raising, and with the strong interest from institutional investors the Company agreed to raise $3,654,231. New shares issued under the Placement will rank equally with existing SUDA shares. 

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