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Argent BioPharma (ASX:RGT) (OTCQB:RGTLF) has successfully completed a US$4.5 million capital raise through a placement of 5,625,000 Units at US$0.80 each. Each Unit includes two ordinary shares and one warrant exercisable at US$0.55 with a three-year expiry.
The placement will be executed in two tranches: Tranche 1 with 5,000,000 shares and 2,500,000 warrants issued immediately, and Tranche 2 with 6,250,000 shares and 3,125,000 warrants subject to shareholder approval. The shares are priced at US$0.40, representing a 370% premium to the 15-day VWAP.
The funds will support Argent's drug development pipeline, particularly CannEpil® clinical studies. The company is conducting a strategic review following LSE delisting and preparing for US National Listing. Sputnik Enterprises , acting as corporate advisor, will receive a 5% cash fee and 1,125,000 warrants.
Argent BioPharma (ASX: RGT) (OTCQB: RGTLF) has successfully completed a US$4.5 million capital raise through a placement of 5,625,000 Units at US$0.80 each. Each Unit includes two ordinary shares and one warrant exercisable at US$0.55 with a three-year expiry.
The placement will be executed in two tranches: Tranche 1 with 5,000,000 shares and 2,500,000 warrants issued immediately, and Tranche 2 with 6,250,000 shares and 3,125,000 warrants pending shareholder approval. The placement shares are priced at US$0.40, representing a 370% premium to the 15-day VWAP.
The funds will support Argent's drug development pipeline, particularly CannEpil® clinical studies. The company is conducting a strategic review following LSE delisting and preparing for US National Listing. Sputnik Enterprises , acting as corporate advisor, will receive a 5% cash fee and 1,125,000 warrants.
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