FinTech

Imugene: Signs $5.7M option underwriting agreement

  • Imugene (IMU) has secured a $5.7 million option underwriting agreement with Bell Potter
  • The agreement between the company and financial firm relates to the balance of the options not exercised prior to November 30, 2020
  • There are over 217 million options available, at an exercise price of 2.6 cents each
  • Imugene said the agreement will strengthen its cash reserves, which totalled over $30 million at the end of the June quarter
  • The company also said it will use the funds to progress its clinical programs and for IP and milestone payments
  • Shares in Imugene are trading down four per cent, for 4.8 cents per share
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Steve Sam
Steve Sam
Steve Sam is a financial reporter, analyst, and commentator with a strong focus on banking technology, digital payments, and the future of financial services.

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