Bionomics has completed its 1 for 6 pro rata non–renounceable entitlement offer that was announced on 8 March 2021 (Entitlement Offer) and concurrent placement that was announced on 17 March 2021 (Concurrent Placement) which collectively raised approximately A$22.9 million.
The Entitlement Offer closed at 5.00 pm (Adelaide time) on 30 March 2021 and raised approximately A$20.4 million from the offer of approximately 140.9 million new fully paid ordinary shares in Bionomics (New Shares) at the offer price of A$0.145 per New Share.
The Entitlement Offer was well supported by eligible shareholders who applied for approximately 85.6 million shares aggregating to approximately A$12.4 million of New Shares pursuant to their entitlements (representing a take up rate of approximately 60.7%).
Eligible shareholders subscribed for a further approximately 70.3 million additional New Shares in excess of their entitlement (up to a maximum of 100% of their entitlement) aggregating to approximately A$10.2 million in excess of their entitlement through the Oversubscription Facility. Applications under the Oversubscription Facility were in excess of the approximately 55.3 million shares or A$8 million shortfall and were scaled back in accordance with the terms of the Entitlement Offer on a pro rata basis.
Commenting on the outcome, Bionomics’ Executive Chairman, Dr Errol De Souza said, “Following on from the strong support received under the Company’s oversubscribed capital raise in February 2021, the success of the Entitlement Offer and Concurrent Placement demonstrates the confidence of Bionomics’ shareholders in the direction of the Company and the opportunities presented by progressing the development programme for BNC210 for the treatment of PTSD. We remain on track to starting the Phase 2b BNC210 PTSD trial in mid-2021″.
As announced on 17 March 2021, Bionomics also conducted the Concurrent Placement concurrently with the Entitlement Offer pursuant to which certain investors were entitled to apply for new shares at the same price and on the same pro rata basis as was offered to subscribers under the Entitlement Offer. The investors to whom this Concurrent Placement offer was extended were those who participated in the Bionomics placement announced on 9 February 2021 and which completed on 2 March 2021, but who were unable to participate in the Entitlement Offer due to having a registered address outside of Australia or New Zealand.
The Concurrent Placement which was made on substantially the same terms as the Entitlement Offer raised approximately A$2.5 million from the offer of approximately 17.2 million new fully paid ordinary shares in Bionomics (New Concurrent Shares) at the offer price of A$0.145 per New Concurrent Share. New Concurrent Shares applied for under the Concurrent Placement were scaled back on a pro rata basis in the same manner as shareholders who applied under the Entitlement Offer.
The New Concurrent Shares issued under the Concurrent Placement were allocated from Bionomics’ expanded placement capacity following the Entitlement Offer.
Allotment of New Shares and New Concurrent Shares under the Entitlement Offer and the Concurrent Placement occurred on Thursday, 8 April 2021.
New Shares and Concurrent New Shares issued under the Entitlement Offer and the Concurrent Placement rank equally in all respects with existing shares. Shareholders should confirm their holding before trading in New Shares and Concurrent New Shares.