REG - Argent Biopharma Ltd - Placing to Raise US$2,000,000

Argent BioPharmaAnnouncement

16/07/2024 10:00

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RNS Number : 5931W  Argent Biopharma Limited  16 July 2024

 

16 July 2024

 

Argent BioPharma Ltd.

(Argent BioPharma or the Company)

 

Placing to Raise US$2,000,000

 

Argent BioPharma, an innovative multidisciplinary drug development company
within the biopharmaceutical sector, announces that following its raise
earlier in the month, the Company has raised an additional US$2,000,000
(Placement) through the issue of 2,500,000 fully paid ordinary shares at
US$0.80 (~A$1.20) per share (Placement Shares). The placement participants
will also be issued one (1) free attaching warrant for every two (2) Placement
Shares subscribed for (Warrants). The Warrants will be exercisable at US$1.20
(~A$1.80) each, expiring 3 years from the issue date.

 

Proceeds from the Placement will support the continuation of the Company's
drug development pipeline, including CannEpil® and CimetrA® in the US and EU
markets.

 

The Placement Shares and Warrants are to be issued under the Company's
existing Placement capacity in accordance with ASX listing Rule 7.1 and 7.1A
as followed: LR7.1 - 1,250,000 Warrants, LR7.1A - 2,500,000 Placement Shares.
The issue price of US$0.80 (~A$1.20) per Placement share under the Placement
represents approximately a 397% premium to the 15-day VWAP of A$0.302 prior to
the stock being placed in a Trading Halt on 12 July 2024.

-Ends-

 

Authorised for release by the board of directors, for further information
please contact:

 

 Argent BioPharma                                             Argent BioPharma

 Roby Zomer                                                   Rowan Harland

 CEO & Managing Director                                      Company Secretary

 +61 8 6555 2950                                              +61 8 6555 2950

 info@argentbiopharma.com (mailto:info@argentbiopharma.com)   info@argentbiopharma.co (mailto:info@argentbiopharma.co.uk) m

 UK Corporate Broker

 Shore Capital

 Toby Gibbs / James Thomas / Lucy Bowden

 +44 (0)207 408 4090

About Argent BioPharma

 

Argent BioPharma Limited (the "Company") (ASX: RGT; LSE: RGT; OTCQB: RGTLF) an
innovative multidisciplinary drug development Company within the
biopharmaceutical sector.  The Company focuses on multidisciplinary methods
with Nanotechnology, developing multi-target therapies for comprehensive
disease management, especially concerning the Central nervous system ("CNS")
and Immunology treatments.

 

Follow us through our social media channels:

LinkedIn: Argent BioPharma

Twitter: @ArgentBioPharma

Facebook: Argent BioPharma

 

Total voting rights

On issue of the Fundraising Shares, the Company will have 48,405,202 Ordinary
Shares in issue, each with one voting right. Therefore, the Company's total
number of Ordinary Shares in issue and voting rights will be 48,405,202 and
this figure may be used by shareholders from issue of the Placing Shares as
the denominator for the calculations by which they will determine if they are
required to notify their interest in, or a change to their interest in, the
Company under the FCA's Disclosure Guidance and Transparency Rules.

 

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