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Living Cell Technologies Limited (LCT) is raising up to A$2.5M through three distinct funding initiatives: a placement for A$750,000; a non-renounceable rights issue entitlement offer and shortfall offer by way of prospectus to raise circa A$1.2M, and a post rights issue over allotment offer to raise an additional A$562,500.
The placement has been received from professional and sophisticated investors of Alignment, representing 100M new shares priced at A$0.0075 per share for A$750,000.
The indicative ex-date for the rights issue entitlement offer will be 5.00pm (AEST) on 22 March 2023. If fully subscribed, the rights issue will result in the Company issuing approximately 160,670,465 new shares to raise approximately A$1.2M.