Friday, March 5, 2021

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Cyclopharm: Completes $30M placement

  • Cyclopharm (CYC) has completed a share placement to raise $30 million
  • Roughly 11.5 million new fully paid ordinary shares offered at $2.60 per share
  • Funds raised will primarily used to finance activities to accelerate Cyclopharm’s expansion into the U.S. market, pushing its Technegas product
  • The company will also conducting a non-underwritten share purchase plan offer to existing eligible shareholders who have a registered address in Australia
  • The placement shares expected to issued and commence trading on the ASX on February 1, 2021
  • Cyclopharm shares are up 3.06 per cent, trading at $3.03

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