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Imagion Biosystems Ltd. ( (AU:IBX) ) has issued an announcement.
Imagion Biosystems has completed the conversion of the remaining first tranche of its convertible notes with Mercer Street Global Opportunity Fund, issuing 3,048,484 ordinary shares and fully extinguishing the A$1.65 million tranche, thereby simplifying its capital structure. The company has also renegotiated terms on the A$1.1 million second tranche, making a A$300,000 payment to reduce the outstanding balance to A$558,000, extending the maturity to 28 February 2026, and agreeing that any remaining balance at that date will be mandatorily converted into shares at the contractual conversion price, signalling continued support from Mercer Street and providing greater visibility over Imagion’s near-term financing as it advances its MagSense® cancer imaging technology.
The most recent analyst rating on (AU:IBX) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on Imagion Biosystems Ltd. stock, see the AU:IBX Stock Forecast page.
More about Imagion Biosystems Ltd.
Imagion Biosystems Limited (ASX: IBX) is a clinical-stage medical imaging company focused on transforming cancer diagnosis and treatment. It is developing MagSense®, a first-of-its-kind molecular MRI imaging agent based on non-radioactive, bio-safe magnetic nanoparticles designed to detect cancers such as HER2+ breast, prostate and ovarian cancers earlier and with greater precision, aiming to improve diagnostic certainty across a broad range of oncology applications.
Average Trading Volume: 3,629,707
Technical Sentiment Signal: Hold
Current Market Cap: A$14.1M
See more insights into IBX stock on TipRanks’ Stock Analysis page.