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An announcement from Noxopharm Ltd. ( (AU:NOX) ) is now available.
Noxopharm has issued 2.6 million new convertible notes with a face value of $1 each and 520,000 unlisted options to sophisticated and professional investors, rolling over an equivalent value of maturing notes first issued in January 2025. The notes, which carry 12% annual interest and mature in January 2027, can convert into between about 29.4 million and 41.6 million shares depending on the conversion price, while the attached options carry a separate exercise price; together, these securities will increase the number of instruments on issue and, upon conversion or exercise, dilute existing shareholders, although the transaction does not bring in fresh cash but instead extends the company’s existing convertible funding structure.
The most recent analyst rating on (AU:NOX) stock is a Hold with a A$0.10 price target. To see the full list of analyst forecasts on Noxopharm Ltd. stock, see the AU:NOX Stock Forecast page.
More about Noxopharm Ltd.
Noxopharm Limited (ASX: NOX) is an Australia-based listed company operating in the biotechnology and pharmaceuticals sector, focused on developing therapeutic products and associated intellectual property. Its funding and capital management activities are conducted through ASX capital markets, with a shareholder base that includes sophisticated and professional investors participating in structured instruments such as convertible notes and options.
Average Trading Volume: 65,930
Technical Sentiment Signal: Buy
Current Market Cap: A$28.93M
Find detailed analytics on NOX stock on TipRanks’ Stock Analysis page.