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AdAlta Ltd. ( (AU:1AD) ) has issued an update.
AdAlta Ltd. has announced a renounceable pro rata rights offer to its shareholders in Australia and New Zealand, allowing them to purchase new ordinary shares and options. This offer is expected to raise approximately $1.29 million, increasing the company’s total issued shares significantly. The directors of AdAlta have committed to taking up their entitlements in full, and the offer is structured to exclude foreign shareholders due to regulatory and cost considerations. The proceeds from the sale of rights for ineligible shareholders will be managed by Mahe Capital Pty Ltd.
More about AdAlta Ltd.
AdAlta Ltd. operates in the biotechnology industry, focusing on the development of innovative therapeutic products. The company is known for its proprietary i-body technology, which is used to develop treatments for fibrotic diseases and cancer. AdAlta is listed on the Australian Securities Exchange (ASX) and primarily targets markets in Australia and New Zealand.
YTD Price Performance: -37.50%
Average Trading Volume: 653,493
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$3.86M
Learn more about 1AD stock on TipRanks’ Stock Analysis page.