Becketts advises Amplia Therapeutics Limited on its $13 million capital raising
Amplia Therapeutics Limited (ASX: ATX) is a Melbourne-based, clinical-stage drug development company focused on the development of two ‘Focal Adhesion Kinase’ inhibitors for the treatment of cancer and fibrotic diseases.
On 30 October 2024 Amplia announced a capital raising of $13 million comprising:
- an institutional placement to raise $7.8 million;
- a conditional placement to Amplia’s directors to raise $0.3 million; and
- a 1 for 6.45 pro rata, accelerated non-renounceable entitlement offer to raise $4.9 million.
In addition, for every four new shares issued under the capital raising, investors are entitled to three attaching options, with an exercise price of $0.1725 and an expiry date of 31 October 2027. The options are intended to be quoted on the ASX.
The capital raising is being undertaken an offer price of $0.115 per new share.
The proceeds of the capital raising will be primarily used to pay for Amplia’s upcoming Phase II trials of its lead product, Narmafotinib, in pancreatic cancer (ACCENT and FOLFIRINOX).
The capital raising was lead managed by Bell Potter Securities Limited and Taylor Collison Limited. The retail component of the entitlement offer was underwritten by the lead managers.
The Becketts team that advised Amplia on the capital raising was led by Nick Golding and Alex Bean (Partners), supported by Brad Papaluca (Lawyer).