Benitec raises $3.75m, launches share purchase plan
Monday, 08 November, 2004
Gene silencing specialist Benitec (ASX:BLT) has raised AUD$2.75 million in a placement to institutions and 'sophisticated' investors in Australia and abroad, the company said today.
And it has opened a share purchase plan to shareholders, offering up to $4950 of fully-paid ordinary shares at $0.55, a 14.9 per cent discount to Benitec's volume-weighted average price over the last five days.
In a statement, the company said it would use the funds raised for a variety of activities, including expanding its US facilities, US management team and RNAi intellectual property, reviewing M&A opportunities, and developing its cancer program.
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