Acrux announces new share purchase plan

Acrux (ASX:ACR) has launched a Share Purchase Plan (SPP) on 6 December 2024 to raise $2 million before costs. This follows a recent placement to institutional and sophisticated investors, setting a combined target of $4.65 million. The funds will aid in developing the company's topical pharmaceutical products. Eligible shareholders in Australia and New Zealand can buy up to A$30,000 of new shares at a 19.35% discount.

Acrux's strategic financial initiative

Acrux has initiated a Share Purchase Plan aiming to raise $2 million, adding to the $4.65 million target when combined with a recent placement. The plan, open to eligible shareholders in Australia and New Zealand, offers shares at a discounted price. Funds will support the development of Acrux's topical pharmaceuticals, including analytical method development, bioequivalence demonstration, and manufacturing process validation. Shareholders benefit from free attaching options, subject to approval. The initiative underscores Acrux's commitment to advancing its pharmaceutical portfolio and enhancing shareholder value.

Insights from Acrux's leadership

The proceeds from the Share Purchase Plan will allow us to advance our topical pharmaceutical product pipeline. This is a strategic step in supporting our ongoing development programs and ensuring our products meet market demands.