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Bio-Gene Technology Ltd (ASX:BGT)

ALERT: Price-sensitive ASX Announcement for BGT
Current share price for BGT : $0.018 -0.011 (-37.93%)+
Announcement
Release
26 May 2026 9:59AM
Price at Release
$0.029
Full Release
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Summary
Bio-Gene Technology Ltd has announced a successful capital raising of $3.21 million through a private placement and a partially underwritten Share Purchase Plan (SPP). The placement raised $2.71 million from professional and sophisticated investors at an issue price of $0.025 per share. A key component of the placement is the issuance of free attaching unlisted options for every two shares, subject to shareholder approval, which are exercisable at $0.035 and expire on 15 October 2027. The funds will be utilized for regulatory studies on Flavocide, expansion of Qcide production, and other strategic developments. The SPP will allow eligible shareholders to purchase shares worth up to $15,000 at the same price, with additional options attached. The SPP is expected to run from 2 June 2026 to 19 June 2026. The company emphasizes this funding will support the submission of their first regulatory application for Flavocide and enhance their commercial strategy.
Key Points
  • Bio-Gene raises $3.21 million via a Placement and SPP.
  • Placement share price set at $0.025, a discount to recent trading prices.
  • Tranche 1 and Tranche 2 structures used for share issuance.
  • Shareholder approval required for the issuance of free options.
  • Funds to support Flavocide's regulatory approval studies.
  • SPP offers shares up to $15,000 per shareholder without brokerage fees.
  • Lead Manager Stralis Capital Partners, fee set at $150,000.
  • SPP underwritten for up to $500,000.
  • Placement includes issuance of free attaching unlisted options.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.