"The details of the proposed acquisitionand associated transactions are set out in the accompanying ASX announcement, with the key terms as follow: • acquisition of 100% of Cynata Inc through the issue of 200,000,000 shares (which number will be consolidated to approximately 10,000,000), subject to Shareholder approval; • the consolidation of the Company’s capital on a 20 for 1 basis (note that shares in the Company will trade on a pre-consolidated basis until shareholders have voted on the relevant resolutions); • conduct a fully underwritten capital raising of $5million at 40 cents per share (equivalent to a price of 2 cents on a pre-consolidation basis) lead by Forrest Capital and KTM Capital Pty Ltd, with the ability to accept over-subscriptions of an additional $1 million, resulting in the issue of up to 15,000,000 new shares in the Company; and • change the Company’s name to Cynata Therapeutics Limited."
So complete the acquisition and get set for the future. A lot of birds killed with the one stone, so to speak.
ECQ Price at posting:
2.8¢ Sentiment: None Disclosure: Held