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Botanix Pharmaceuticals Limited ( (AU:BOT) ) has issued an announcement.
Botanix Pharmaceuticals is launching a security purchase plan that allows eligible shareholders to subscribe for up to A$30,000 of new fully paid ordinary shares at A$0.06 each, with one new option attached to each share. The plan is underwritten to A$5 million by Euroz Hartleys and Canaccord Genuity, with the ability to accept oversubscriptions, reinforcing the company’s effort to secure additional growth capital.
Any shortfall from the shareholder offer up to the underwritten amount may be allocated to the joint lead managers and sub-underwriters on the same terms, alongside separate option offers to placement participants and sub-underwriters. The issuance of all new securities is contingent on shareholder approval of interconditional resolutions at a forthcoming general meeting, meaning investors’ support will directly determine whether the proposed capital-raising structure proceeds.
The most recent analyst rating on (AU:BOT) stock is a Buy with a A$1.00 price target. To see the full list of analyst forecasts on Botanix Pharmaceuticals Limited stock, see the AU:BOT Stock Forecast page.
More about Botanix Pharmaceuticals Limited
Botanix Pharmaceuticals Ltd is a specialty pharmaceuticals company focused on developing and commercialising dermatology and other therapeutic products. The company operates in the biotechnology and life sciences sector, using pharmaceutical-grade technologies to target unmet medical needs in key healthcare markets.
Average Trading Volume: 9,220,497
Technical Sentiment Signal: Sell
Current Market Cap: A$119.8M
See more data about BOT stock on TipRanks’ Stock Analysis page.