Melbourne (Australia) – Monday, 24 January 2022. Telix announces a successful $175 million institutional placement and launches Share Purchase Plan to raise up to $25 million.
Telix is pleased to announce a successful $175 million institutional placement of new, fully paid ordinary shares in the Company (New Shares) at a price of $7.70 per New Share (Placement). The Placement will be followed by a Share Purchase Plan (SPP) to raise up to $25 million at the same offer price.
Following completion of the Placement and SPP, Telix will be well funded to execute on its late-stage clinical product pipeline and advance multiple programs towards commercialisation, particularly the ProstACT (prostate cancer therapy) clinical program.
The Company also intends to use the additional funds to further expand its pipeline and capabilities around Targeted Alpha Therapy (TAT). These activities are in parallel to launch of Telix’s first commercial product Illuccix® (kit for the preparation of gallium 68 (68Ga) gozetotide (also known as 68Ga PSMA-11) injection), which recently attained a marketing authorisation from the U.S. Food and Drug Administration (FDA).
Telix Group CEO Dr Christian Behrenbruch stated, “We are delighted with the level of support for the Placement from new and existing investors. Funds raised under the Placement and SPP will provide the Company with the financial resources to execute on the next phase of Telix’s growth strategy, which is to advance our core therapeutic clinical programs, expand our commercial diagnostic portfolio and proactively seek out new innovations that will cement Telix’s position as a leader in the field of ‘theranostic’ radiopharmaceuticals.
“We are particularly pleased to attract high quality, specialist investors to the register and would like to welcome our new investors and thank our existing shareholders for their outstanding support.”
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