Firebrick Pharma Limited (AU:FRE) has released an update.
Firebrick Pharma Limited is initiating a Share Purchase Plan (SPP) to raise up to $2 million by offering shares to eligible shareholders at a discounted price of $0.055 each, aiming to fund marketing expansion for their Nasodine Nasal Spray and for working capital. The offering is available to shareholders in Australia and New Zealand, with an optional maximum purchase of $30,000 worth of shares per shareholder, free of brokerage or commission fees. The issue price is notably discounted from the recent average market price, and the SPP timeline includes an offer opening on September 17, 2024, and a closing date of October 7, 2024.
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