Chimeric Therapeutics (ASX:CHM) said it intends to raise AU$3.2 million through a pro-rata, non-renounceable entitlement offer, according to a Tuesday filing with the Australian bourse.
The offer, priced at AU$0.005 per share, will allow eligible shareholders to subscribe for two new shares for every five existing shares held and represents an over 23% discount to the stock's last closing price, the filing said.
Investors will also receive one new option per share subscribed, exercisable at AU$0.008, expiring on Dec. 19, subject to shareholder approval, the filing added.
Funds raised will support ongoing clinical trials, and shareholders will have the option to apply for additional shares beyond their entitlement, the company said.
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