By Jennifer Chiou
New York, Dec. 14 - Alchemia Ltd. announced it raised A$5 million from an oversubscribed share purchase plan offering.
The drug development company sold 4.545 million shares at A$1.10 per share to existing registered shareholders in Australia and New Zealand.
The company noted it received applications for more than the plan limit of 4,546,190 new shares. As a result, the company scaled back applications on a pro rata basis.
Alchemia announced the offer on Nov. 3 and said 65% of eligible shareholders participated in the offering.
Including this offering, the company has 125,788,893 shares outstanding.
Proceeds will go towards the company's drug discovery programs.
Based in Brisbane, Queensland, Australia, Alchemia develops cancer and eye disease treatments.
| Issuer: | Alchemia Ltd.
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| Issue: | Stock
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| Amount: | A$5 million
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| Stock: | 4.545 million shares
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| Price: | A$1.10
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| Settlement date: | Dec. 14
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| Stock price: | A$1.17 at close Dec. 13
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