Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the wordpress-seo domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /var/www/html/wp-includes/functions.php on line 6260 Phosphagenics Receives Funding - Beauty Packaging

What are you searching for?

Sign in

Phosphagenics Receives Funding

Author Image

By: Jamie Matusow

Editor-in-Chief

Australian drug delivery company, Phosphagenics Limited (ASX: POH; OTCQX: PPGNY), today announced that it has raised A$12.2 million of its A$16.3 million capital raising program. The Company is looking to raise an additional A$3 million from a share purchase plan (SPP) to be offered to existing shareholders. 

Phosphagenics completed the institutional placement for 153,000,000 shares at 8 cents per share on July 11, 2014. Total gross proceeds from this placement to institutions and accredited investors were approximately A$12.2 million. A placement of a further 51,000,000 shares at the same price will be subject to shareholders’ approval at a General Meeting to be held on or around August 25, 2014.

 
Phosphagenics will also seek to raise a further A$3 million through an SPP to existing shareholders at 8 cents per share. The record date for participating in the SPP offer is July 10, 2014. The SPP documentation was sent to shareholders on July 17, 2014.

Add us as a preferred source on Google

Get the latest Beauty Packaging news, insights and analysis in your Google Search and AI experiences.

Add Beauty Packaging as a preferred source on Google (opens in a new tab)

Keep Up With Our Content. Subscribe To Beauty Packaging Newsletters