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An update from Rhythm Biosciences Ltd. ( (AU:RHY) ) is now available.
Rhythm Biosciences has responded to an Australian Securities Exchange query regarding its underwriting agreement for the exercise of RHYO options, clarifying that the agreement was executed overnight on 24–25 February 2016 and remains in full effect. The company confirmed that a shortfall notice was issued on 2 April 2016 in line with the agreement and that no termination events have been amended since execution.
The company acknowledged that earlier ASX announcements on 25 and 27 February contained incomplete and, in parts, inaccurate summaries of termination events, particularly around “market fall” conditions, due to administrative and drafting oversights. Rhythm stated that the prospectus dated 30 March 2016 accurately reflects the termination provisions, which it considers market-sensitive as a whole, and explained that later disclosures were intended to supersede the earlier incomplete description rather than signal changes to the underlying underwriting terms.
More about Rhythm Biosciences Ltd.
Rhythm Biosciences Ltd. is an Australian-listed biotechnology company focused on molecular science and diagnostics, operating from the Bio21 Molecular Science & Biotechnology Institute in Parkville, Victoria. The company is listed on the ASX under the ticker RHY and is subject to Australia’s continuous disclosure and listing compliance framework.
Average Trading Volume: 1,017,770
Technical Sentiment Signal: Buy
Current Market Cap: A$64.73M
Learn more about RHY stock on TipRanks’ Stock Analysis page.