Oct 29, 2020
Completion of Placement and SPP raises $48.9M in total
Melbourne, Australia; 29 October 2020: Starpharma (ASX: SPL, OTCQX: SPHRY) today announced that it has completed its Share Purchase Plan (SPP), raising $3.9 million. The SPP was conducted in conjunction with Starpharma’s recent institutional placement (Placement), which together have raised a total of $48.9 million. The issue of 2.6 million new shares under the SPP will be at $1.50 per share, being equivalent to the Placement share price.
Commenting on the SPP, Starpharma CEO Dr Jackie Fairley said: “We have been delighted with the participation from both retail and institutional shareholders and thank them for their strong support. This financing has further strengthened Starpharma’s balance sheet and places the Company in an excellent position to accelerate the development, regulatory, commercialisation and launch activities across our portfolios, including the SPL7013 COVID‑19 nasal spray and DEP® assets.”
The issue date of the new shares is expected to be 4 November 2020 and holding statements will be mailed out after month end. Any shareholder queries should be directed to Starpharma’s share registry, Computershare, on Tel: 1300 850 505.
Download: Completion of Placement and SPP raises $48.9M in total (PDF, 399kb)
Not for release to US wire services or distribution in the United States. This announcement has been prepared for publication in Australia and may not be released to US wire services or distributed in the United States. This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States or any other jurisdiction. Any securities described in this announcement have not been, and will not be, registered under the US Securities Act of 1933 and may not be offered or sold in the United States except in transactions exempt from, or not subject to, the registration of the US Securities Act and applicable US state securities laws.