Alterity Therapeutics raises A$20M in strategic placement

Alterity Therapeutics (ATHE) received binding commitments for a capital raising of A$20M of fully paid ordinary shares to International and Australian professional investors. MST Financial Services acted as sole manager of the offering. The Placement was conducted at A$0.012 per share, representing a discount of 7.7% to the last ASX closing price prior to the trading halt and a 7.3% discount to the 10-day volume weighted average price. There were no options issued as part of this transaction. The new shares to be issued will rank equally with existing ATH fully paid ordinary shares. The use of proceeds from this financing will provide Alterity a strong balance sheet to fund the necessary non-clinical studies, chemical manufacturing and controls activities, clinical and regulatory activities for future development of ATH434 in MSA, and general working capital.