Chimerics AU$10 million Equity Raise for Drug Development

Chimeric Therapeutics Limited (ASX: CHM) plans to raise approximately AU$10 million through a non-renounceable entitlement offer. The offer entails a price of AU$0.028 per new share, representing a substantial 31.7% discount to Chimeric's closing share price on October 24, 2023. The proceeds from this offer will be crucial for advancing the company's drug development program, particularly its four ongoing clinical trials in cell therapy. All directors of Chimeric are committed to participating in the offer. Eligible shareholders in Australia and New Zealand will have the opportunity to subscribe for 2 new ordinary shares in Chimeric for every 3 existing shares held as of October 30, 2023. This entitlement offer, which opens on November 2, 2023, and closes on November 20, 2023, will not be tradeable and is non-renounceable.

Bell Potter Securities Limited will act as the Lead Manager for the entitlement offer, and Chimeric will provide further details through the Entitlement Offer Information Booklet, expected to be lodged with ASX on November 2, 2023. Shareholders are encouraged to carefully consider their participation options, and the offer is not underwritten. Approximately 356 million new ordinary shares will be issued, ranking equally with existing shares, and there is an opportunity for eligible shareholders to apply for additional shares under a top-up facility.

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