Rhythm Biosciences Ltd has seen strong demand in its share placement, raising AU$3.5 million

Rhythm Biosciences Ltd (ASX: RHY) announces that it has secured commitments to a significant capital-raising initiative. This will include a Placement aimed at raising AU$ 3.5 million by offering new fully paid ordinary shares at a competitive AU$0.10 each. The Placement will consist of approximately 35,000,000 new fully paid Placement Shares issued in a single tranche at the Offer Price.

Investors will also benefit from this opportunity by receiving two listed options for every three Placement Shares acquired. These Placement Options feature an exercise price of AU$0.20 and will expire on 31 March 2026. The strong demand for this Placement reflects the confidence of new institutional, professional, and sophisticated investors. The funds raised will primarily be dedicated to advancing and commercializing the innovative ColoSTAT Multiplex diagnostic test for colorectal cancer, paving the way for a significant impact in this crucial healthcare sector.

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