On September 25, 2023 Imugene Limited (ASX: IMU), a clinical stage immuno-oncology company, reported that it has closed the Share Purchase Plan (SPP, see ASX Announcement 18 August 2023) component of its capital raising in conjunction with the acquisition of the exclusive licensing rights to azer-cel, raising a further $18.2 million (Press release, Imugene, SEP 25, 2023, View Source [SID1234635350]).

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Under the SPP, approximately 325 million shares will be issued at $0.056 per share, representing the lower of $0.084 and a 2.5% discount to the 5-day VWAP up to and including the closing date of the SPP (21 September 2023).

Under the SPP, Eligible Shareholders will also receive one free option for every New Share subscribed for. The New Options will have an exercise price of $0.118 per option with an expiration of 31 August 2026 and will be subject to shareholder approval. It is intended that the New Options will be quoted on the ASX.

The new ordinary shares subscribed for under the SPP are expected to be issued on Tuesday, 26 September 2023.

Imugene’s Executive Chairman Paul Hopper said: "I want to thank our existing shareholders for their support of the SPP on behalf of the Board and management of Imugene. With a portfolio of world-class assets, backed by an outstanding balance sheet, Imugene is well placed to continue its development and provide shareholder value to our loyal investors in due course."