Kazia Therapeutics Limited (ASX: KZA; NASDAQ: KZIA) is delighted to announce a placement of KZA shares to institutional and sophisticated investors in Australia, at a price of A$0.11 per share. This placement will enable the company to raise A$4.5 million (exclusive of costs), which will help fuel the development of its innovative oncology-focused biotechnology.
Attracting professional and sophisticated investors requires an effective placement strategy. Investing in the right assets and understanding the needs of your target market is essential for successful placements. With the right approach, you can maximize the potential of your investments and secure the long-term success of your business.
Kazia recently raised $2,792,572 through an unconditional institutional placement of 25,387,018 New Shares, equating to approximately 16% of its total outstanding shares. This significant investment will help to further the company’s development and growth.
Kazia Therapeutics is offering an exciting opportunity to its shareholders to approve an institutional placement of 15,522,075 New Shares worth a total of $1,707,428, in preparation for an ASX Listing Rule 7.1. Don’t miss out on this fantastic chance to be part of Kazia’s journey to the top.
The Unconditional Placement and the Conditional Placement will both come with a price tag of A$0.11, a 13% premium to the 15-day volume-weighted average price (VWAP) on the Australian Securities Exchange (ASX) up to and including 11 January 2023 of A$0.097. This is an exciting opportunity for investors to secure a great deal.
The Company is pleased to announce the launch of its Unconditional Placement, with the issuance of new shares expected to occur on or around January 16, 2023. All new shares will be issued without shareholder approval, in accordance with the Company’s existing placement capacity under ASX Listing Rules 7.1, and will rank equally with existing shares on issue. Quotation of the new shares on the Australian market is expected to commence on January 17, 2023.
Kazia will soon be hosting an Extraordinary General Meeting on 24 February 2023 to vote on the Conditional Placement of New Shares. All eligible shareholders will be invited to attend and have the chance to review the notice of meeting and explanatory materials provided beforehand. Don’t miss this unique opportunity to have your say on the future of the company!
No underwriting was necessary for the Placement, showcasing the confidence of all involved.
Funding will be used to propel Kazia’s clinical program towards key milestones, such as the final data read out of the groundbreaking paxalisib GBM AGILE study. This major step will be a defining moment in the progress of this life-saving research.
Kazia is pleased to announce a placement of shares and plans for the use of proceeds. This news comes as a result of the company’s expectations and beliefs for the future. However, there are risks and uncertainties which could cause actual results to differ from what is expected. Therefore, we encourage investors to stay informed and up to date with Kazia’s Annual Report and other filings with the SEC. We look forward to the future and what it may bring.
This announcement does not constitute an invitation to buy securities in the United States or to any U.S. persons. The securities referred to here have not been registered in the United States or under any state or other jurisdiction’s securities laws. Therefore, they may not be offered or sold directly or indirectly in the United States or to any U.S. persons or to any person acting on behalf of a U.S. person. The only exceptions are transactions that are either registered under the Securities Act or exempt from, or not subject to, the registration requirements of the Securities Act and any other applicable securities laws of any state or other jurisdiction of the United States.