Actinogen Medical Launches AU$8.9 Million Fundraising Initiative

Actinogen Medical (ASX: ACW) has embarked on an AU$8.9 million capital raising endeavor to fund its ongoing clinical trials, including the XanaMIA trial targeting Alzheimer's disease. The initiative includes a AU$5 million share placement to professional investors and a AU$3.9 million entitlement offer to existing shareholders, priced at AU$0.025 per share. Each pair of new shares issued under these terms will accompany one new option, exercisable at AU$0.05 within three years.

The funds will primarily support the XanaMIA trial past its preliminary results expected by mid-2025 and bolster general working capital. Both the share placement and entitlement offer are managed by Forrest Capital Pty Ltd and McFarlane Cameron Pty Ltd, and do not require shareholder approval. A webinar hosted by CEO Dr. Steven Gourlay and CFO Mr. Will Souter is scheduled to further discuss the capital raising details.

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