Mesoblast Limited (ASX: MSB), a global pioneer in allogeneic cellular therapies for inflammatory conditions, recently secured firm commitments for its institutional placement and the accelerated institutional component as part of a pro-rata entitlement offer. This initiative, announced on December 4, 2023, involves the issuance of new fully paid ordinary shares at an offer price of AU$0.30 per share. The oversubscribed placement is set to raise around AU$36 million, contributing to an approximate AU$55 million total from both offerings.
The backing from existing shareholders and the attraction of new institutional investors underscores the support for Mesoblast's endeavours. CEO Dr. Silviu Itescu is committed to acquiring a significant portion of his entitlement through the accelerated institutional offer. Additionally, a retail entitlement offer, open from December 8 to December 19, 2023, allows eligible shareholders to apply for additional new shares above their entitlement, with a potential fundraising cap of about AU$42 million.
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