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Paradigm Biopharmaceuticals ( (AU:PAR) ) just unveiled an announcement.
Paradigm Biopharmaceuticals has issued a Cleansing Notice related to the issuance of convertible notes, allowing for the conversion of these notes into fully paid ordinary shares that can be sold to retail investors without further disclosure. The company has secured commitments for up to US$27 million through a Convertible Securities Agreement with Obsidian Global GP LLC, with an initial drawdown of US$7 million and a recent additional drawdown of US$5 million. This financial maneuver is expected to impact the company’s operations by providing capital for growth and enhancing its market positioning.
The most recent analyst rating on (AU:PAR) stock is a Buy with a A$0.65 price target. To see the full list of analyst forecasts on Paradigm Biopharmaceuticals stock, see the AU:PAR Stock Forecast page.
More about Paradigm Biopharmaceuticals
Paradigm Biopharmaceuticals is a company operating in the biopharmaceutical industry, focusing on the development and commercialization of therapies for unmet medical needs. The company primarily engages in the production of pharmaceutical products and is listed on the Australian Securities Exchange under the ticker PAR.
YTD Price Performance: -9.33%
Average Trading Volume: 1,119,134
Technical Sentiment Signal: Sell
Current Market Cap: A$145.7M
Find detailed analytics on PAR stock on TipRanks’ Stock Analysis page.