Island Pharmaceuticals Limited (ILA) Capital Raising Announcement

Island Pharmaceuticals Limited (ILA) has announced a non-renounceable pro rata offer of shares and attaching options to eligible shareholders. The offer, fully underwritten by PAC Partners Securities Pty Limited, aims to raise a maximum of $1.95 million before costs. The funds raised will primarily be used for clinical trial costs, intellectual property and license fees, business development activities, and working capital. The offer is open to Australian and New Zealand residents, with certain eligible shareholders in other jurisdictions also able to participate. The company has provided details on the use of funds, important dates, entitlements, and acceptance procedures. The offer is subject to various restrictions on distribution in different jurisdictions. The company has also outlined the effect of the offer on its capital structure and provided information on the underwriting agreement, ASX listing, and other relevant details.

Executive Commentary on Capital Raising Initiative

The company is pleased to announce the non-renounceable pro rata offer of shares and options to eligible shareholders. This initiative is a crucial step in securing the necessary funding for our upcoming clinical trials, intellectual property and license fees, and business development activities. We believe that this capital raising will enable us to advance our pipeline and drive the growth of the company. We are grateful for the full underwriting provided by PAC Partners Securities Pty Limited, which demonstrates confidence in our strategic direction and the potential of our offerings. We encourage eligible shareholders to carefully consider the prospectus and take necessary action regarding their entitlements.

Overview of Island Pharmaceuticals Limited's Capital Raising Initiative

Island Pharmaceuticals Limited (ILA) has initiated a non-renounceable pro rata offer of shares and options to raise a maximum of $1.95 million before costs. The funds raised will primarily be used for clinical trial costs, intellectual property and license fees, business development activities, and working capital. The offer is open to Australian and New Zealand residents, with certain eligible shareholders in other jurisdictions also able to participate. The company has provided comprehensive details on the use of funds, important dates, entitlements, and acceptance procedures. Additionally, the announcement addresses various regulatory considerations for shareholders in different jurisdictions and emphasizes the speculative nature of the investment. This capital raising initiative is aimed at supporting the company's growth and advancing its pipeline.