Acrux Limited (ASX:ACR) Raises $1.34 Million from Share Purchase Plan
Capital Raising Success
Acrux Limited (ASX:ACR) has successfully concluded its capital raising efforts, raising $1.34 million from the Share Purchase Plan (SPP) that closed on 18 December 2024. This recent funding complements the $2.66 million raised from a previous placement to institutional and professional investors, bringing the total funds raised to $4.0 million before costs.
Funding Development Initiatives
The funds acquired will support ongoing development programs for Acrux’s pipeline of topical pharmaceutical products. Specifically, they will aid the advancement of four key projects at later stages of development with contract manufacturers, prior to submitting dossiers to the FDA.
Attaching Options Offering
Acrux plans to provide participants of both the Placement and SPP with one free attaching option for every share subscribed. The attaching options will be outlined in a separate prospectus, subject to shareholder approval at a general meeting. These options are expected to have an exercise price of 5.25 cents and will expire two years after issuance. Full details will be provided in the Notice of Extraordinary General Meeting and the accompanying prospectus coming in January 2025.
Motley Fool contributor Aaron Shaw has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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