By Laura Lutz
Washington, Nov. 29 - Apollo Life Sciences Ltd. secured A$10 million from a private placement.
The company agreed to sell 25 million shares to professional investors at A$0.40 per share.
Most of proceeds will be used for the company's clinical trials of oral insulin and a treatment for psoriasis and rheumatoid arthritis.
Settlement depends on shareholder approval at a Dec. 29 general meeting.
Apollo is a Sydney, Australia-based biotechnology company focused on drug delivery and protein expression technologies.
Issuer: | Apollo Life Sciences Ltd.
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Issue: | Ordinary shares
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Amount: | A$10 million
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Shares: | 25 million
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Price: | A$0.40
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Warrants: | No
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Announcement date: | Nov. 29
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Settlement date: | Dec. 29
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Stock symbol: | Australia: AOP
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Stock price: | A$0.43 at close Nov. 29
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