Adherium Limited (ADR), a company specialising in developing and commercialising smart inhaler technology for respiratory medication adherence, has announced an accelerated non-renounceable pro-rata entitlement offer. The offer aims to raise a maximum of approximately A$4 million before costs. Eligible shareholders will be offered 1 new share for every share held on the record date, at an issue price of A$0.005 per new share, along with 1 new option for every new share issued. Furthermore, if the new option is exercised before 15 November 2025, an additional bonus option will be granted.
The entitlement offer comprises an institutional entitlement offer and a retail entitlement offer. The funds raised will be used to support customer onboarding, scale-up operations, product development, sales contractor engagement, data analysis, product impact evidence, recruitment of a CEO and sales team, and general working capital. PAC Partners Securities Pty Limited is partially underwriting the offers.
The retail entitlement offer closes at 5.00pm (AEST) on 10 July 2025, unless extended. Adherium has lodged a prospectus with ASIC. The company intends to apply for quotation of the new shares on the ASX within seven days of the prospectus date. The new options and bonus options will not be quoted.
