$1.4m Raised Through the Completed SPP
Melbourne, Nov 16, 2020 AEST (ABN Newswire) - Anatara Lifesciences (
ASX:ANR) is pleased to advise that the Share Purchase Plan (SPP) announced to the market on 21 October 2020 closed on 11 November 2020 oversubscribed.
The SPP was open to eligible shareholders from Australia, New Zealand and the United Kingdom. Valid applications totalling $2,069,500 were received.
Given the strong support shown by eligible shareholders, Anatara has decided to increase the SPP size above its original target of $750,000 to $1.4 million.
Due to the strong level of applications in the SPP, it is necessary for Anatara to scale back those applications. The scale back will will be conducted on a pro-rata basis taking into account the number of Shares held as at 7.00pm (Melbourne time) on 20 October 2020 (Record Date).
The issue price of the SPP Shares will be 80% of the VWAP of the ordinary shares in Anatara calculated over the last 5 days on which sales in ordinary shares were recorded before 18 November 2020 on which the issue of the SPP Shares will be made (Issue Date), subject to a floor price of $0.15 per SPP Share in the event the 80% VWAP is less than $0.15.
SPP Shares are expected to be quoted on the ASX on Thursday 19 November 2020. Anatara recommends shareholders confirm their actual holding prior to trading in SPP shares.
About Anatara Lifesciences Limited
Anatara Lifesciences Limited (ASX:ANR) is developing and commercialising innovative, evidence-based products for gastrointestinal health where there is significant unmet need. Anatara is a life sciences company with expertise in developing productsfor human and animal health. Anatara is focused on building a pipeline of human gastrointestinal health products. Underlying this product development program is our commitment to delivering real outcomes for patients and strong value for our shareholders.
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