Oversubscribed deal funds VivaGel Bacterial Vaginosis Phase 3 programs
By Devika Patel
Knoxville, Tenn., Nov. 16 - Starpharma Holdings Ltd. said it settled a "significantly oversubscribed" A$32 million private placement of shares. Bell Potter Securities Ltd. and Shaw Corporate Finance Pty Ltd. were joint lead managers.
The company sold ordinary shares at A$1.075 per share. The price per share is a 0.46% discount to the Nov. 15 closing share price of A$1.08.
The company also said it may raise another A$3 million in a share purchase plan.
Proceeds will be used to accelerate and complete VivaGel Bacterial Vaginosis Phase 3 programs and allow the company to advance multiple product opportunities across its drug delivery and agrochemical programs.
Starpharma is a biotechnology company based in Melbourne, Australia.
| Issuer: | Starpharma Holdings Ltd.
|
| Issue: | Ordinary shares
|
| Amount: | A$32 million
|
| Price: | A$1.075
|
| Warrants: | No
|
| Managers: | Bell Potter Securities Ltd. and Shaw Corporate Finance Pty Ltd. (joint leads)
|
| Settlement date: | Nov. 16
|
| Stock symbol: | Australia: SPL
|
| Stock price: | A$1.075 at close Nov. 16
|
| Market capitalization: | A$266.32 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
