Opthea Successfully Concludes Institutional Offering, Achieves Increased Funding

Opthea Limited (ASX:OPT) has achieved a pivotal milestone, successfully wrapping up its institutional placement and entitlement offer as part of its capital mobilization strategy. Responding to strong demand from both new and existing investors, both domestic and international, Opthea secured an additional AU$10.0 million through oversubscriptions. This infusion raised the placement quantum to AU$20.0 million and the overall capital amassed to AU$90.0 million.

The joint institutional placement and entitlement offer garnered approximately AU$73.7 million, marked by the issuance of around 160.2 million new shares at AU$0.46 per share. Opthea is now poised for the next step - an entirely underwritten retail entitlement offers projected to generate approximately AU$16.3 million. The offer is set to initiate on August 31 and conclude on September 14, 2023.

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