March 27, 2017 9:25am
Dives -$0.70 or -7.69% in the pre-market after $40 M “raise”
Cause and effect ...
MESO/ASX: MSB completed a fully underwritten institutional placement of 26.25 million new shares (approx. 6% of issued capital) and has raised approx. US$40 million. The placement price of A$2.00 per share represents a 4.8% discount to the 15 day VWAP of A$2.10.
The proceeds will be used for Mesoblast’s ongoing P3 clinical programs including chronic heart failure, as well as for manufacturing requirements associated with product commercialization.
Bell Potter Securities Limited acted as Lead Manager and Underwriter to the placement.
The shares have not been and will not be registered under the US Securities Act of 1933, as amended (US Securities Act) or the securities laws of any state or other jurisdiction of the United States. They may not be offered or sold, directly or indirectly, in the United States or to, or for the account or benefit of, any US Person (as such term is defined in Regulation S of the US Securities Act.