Sienna Secures $1.7M From Placement

06-Dec-2019

Melbourne, Australia, 6 December 2019: Sienna Cancer Diagnostics Ltd (ASX:SDX) (“Sienna” or “the Company”), a medical technology company developing and commercialising innovative IVD tests, is pleased to announce the successful completion of a share placement to institutional and sophisticated investors. The Company received $1,657,185.74. A total of 47,348,164 ordinary shares were issued today at a price of 3.5 cents per share, with 18,442,647 shares issued under ASX listing rule 7.1 and 28,905,517 shares issued under ASX listing rule 7.1A.

As disclosed on 29 November 2019, Sienna will offer shareholders who were recorded on the share register on 4 December 2019 (Record Date) the opportunity to participate in a rights issue offer at the share price of the placement, 3.5 cents per share. Eligible shareholders will be forwarded the rights issue documentation and their personalised offer and acceptance form this week. Eligible shareholders can also apply for additional shares in excess of their rights using the personalised form. The allocation of additional shares is at the discretion of the Board of Sienna.

The funds raised from these capital raising initiatives will be used to:

  • Accelerate the commercialisation of SIEN NET™ 
  • Fund co-development expenditures for:
    • Development of a pancreatic cancer test with Minomic International Ltd; and
    • Development of an exosome based therapeutic for the treatment for Critical Limb Ischemia with VivaZome Pty Ltd;
  • provide funding for the continued evaluation of potential technologies for acquisition or in-licence;
  • provide additional working capital;
  • pay the expenses of the placement and rights offer.

ENDS. 

 

For further information, please contact:

Carl Stubbings, CEO/Managing Director
Sienna Cancer Diagnostics Ltd
cstubbings@siennadiagnostics.com.au
+61 3 8288 2141
Tony Di Pietro, CFO/Company Secretary
Sienna Cancer Diagnostics Ltd
tdipietro@siennadiagnostics.com.au
+61 3 8288 2141


The release of this announcement was authorised by Geoff Cumming, Chairman.




 
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