- Recce Pharmaceuticals (RCE) has completed its capital raise and successfully raised $27.95 million
- All up, 21.5 million fully paid ordinary shares will now issued to institutional, professional and sophisticated investors at $1.30 each
- This price represents a 20.5 per cent discount to the $1.64 closing price of RCE shares on September 18
- Due to the strong support received from investors, Executive Chairman Dr Graham Melrose has agreed to sell more than 1.57M shares for $2.05M
- Recce will also use the money to advance its antibiotics, complete phase one human clinical trials, and fund anticipated phase one and two topical studies
- Recce is down 3.67 per cent on the market and shares are trading for $1.58 each
