PharmAust (ASX: $PAA) Share Purchase Plan Details

PharmAust Limited (ASX: $PAA) has announced the launch of a share purchase plan (SPP) to raise up to $2 million. The SPP will allow eligible shareholders to subscribe for up to $30,000 of new shares in PharmAust without incurring brokerage or other transaction costs. The proceeds from the placement and SPP will be used for the pivotal adaptive Phase 2/3 STRIKE study in patients with Motor Neurone Disease (MND) / amyotrophic lateral sclerosis (ALS), GMP manufacturing, preclinical models for other neurodegenerative diseases, regulatory filings, working capital, and offer costs.

Chairman's Statement on Share Purchase Plan

On behalf of the directors of PharmAust Limited, I am pleased to offer eligible shareholders the opportunity to participate in the share purchase plan (SPP). The SPP aims to raise up to $2 million and is not underwritten. The SPP follows PharmAust's successful institutional placement announced on 21 June 2024, which raised $10 million. The proceeds will be used to finalize preparations for the pivotal adaptive Phase 2/3 STRIKE study in patients with Motor Neurone Disease (MND) / amyotrophic lateral sclerosis (ALS), GMP manufacturing, preclinical models for other neurodegenerative diseases, regulatory filings, working capital, and offer costs.

Summary of PharmAust Share Purchase Plan

PharmAust Limited (ASX: $PAA) has launched a share purchase plan (SPP) to raise up to $2 million, offering eligible shareholders the opportunity to subscribe for up to $30,000 of new shares without incurring brokerage or other transaction costs. The proceeds from the placement and SPP will be used for the pivotal adaptive Phase 2/3 STRIKE study in patients with Motor Neurone Disease (MND) / amyotrophic lateral sclerosis (ALS), GMP manufacturing, preclinical models for other neurodegenerative diseases, regulatory filings, working capital, and offer costs. The SPP is open to eligible shareholders with a registered address in Australia or New Zealand. Shareholders are encouraged to read the SPP booklet carefully and seek financial or other professional advice if in doubt about participating in the SPP offer.