IX Biopharma Raises SG$3.3 Million from Rights Cum Warrants Issue

MT Newswires07-19

IX Biopharma (SGX:42C) disclosed the results of its rights cum warrants issue, which closed on July 15, according to a Thursday filing on the Singapore Exchange.

The company received valid acceptances and excess applications for 115 million rights shares with warrants, representing 68.1% of the available 169 million shares.

The rights issue, which offered 115 million shares, included 88.3 million from valid acceptances and 26.7 million from excess applications. The company will allocate 80.7 million shares to satisfy excess applications.

The net proceeds from the issue, amounting to approximately SG$3.3 million, will be allocated as follows: 57% for product development and marketing, including iXB401 sublingual semaglutide wafers, and 43% for general working capital.

Rights shares and warrants are expected to be issued on July 19, with listing on Catalist anticipated on July 23 for the shares and July 24 for the warrants.

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