Percheron Therapeutics Limited (ASX: PER), a company focused on developing innovative therapeutics, has announced a two-for-five pro rata non-renounceable rights offer to raise approximately $2.2 million. The offer involves new shares priced at $0.005 each, along with one new option for every two new shares subscribed. The funds raised are intended to progress the development of HMBD-002, a key asset, and for general working capital purposes. The offer is open to eligible shareholders with registered addresses in Australia, New Zealand, Singapore, Hong Kong, and the United Kingdom, as of the record date, 19 March 2026.
The issue price of $0.005 per new share represents an approximate 20% discount to the company’s 5-day volume-weighted average share price prior to the announcement. New options will be issued at no additional cash consideration and will have an exercise price of $0.01, exercisable for two years from the issue date. Eligible shareholders who fully subscribe to their entitlement may also apply for additional new shares and options under the shortfall offer, subject to the directors’ discretion and allocation policy.
The offer is scheduled to close at 5:00 pm (AEST) on 8 April 2026, subject to potential extensions or withdrawals. Funds from the offer will primarily be used to advance the development of HMBD-002, which recently completed a positive Phase I study in the United States. The company aims to commence a Phase II study in CY2026, with plans to trial HMBD-002 in various cancer types, potentially offering multiple opportunities for the drug to demonstrate benefits across a wide range of patient groups.
Shareholders are advised to carefully read the prospectus in its entirety and seek independent financial, legal, and taxation advice regarding the offer. Further details on how to participate in the offers, along with associated investment risks, are available in the prospectus. The board expresses gratitude for ongoing shareholder support of Percheron Therapeutics Limited.
