BioCentury
ARTICLE | Financial News

Bionomics raises $15.4 million

May 13, 2011 11:28 PM UTC

Bionomics Ltd. (ASX:BNO; OTCBB:BMICY) raised A$14.3 million ($15.4 million) through the sale of 25 million shares at A$0.57 in a private placement to new and existing institutional investors. The price is a 21% discount to Bionomics' close of A$0.72 on Wednesday, before trading in the stock was halted ahead of the offering announcement. Bionomics was off A$0.09 to A$0.63 on Friday.

Shareholder Start-up Australia Ventures also completed its public tender process to sell 60 million Bionomics shares at A$0.57. Start-up Australia Ventures began the tender last year (see BioCentury, Nov. 15, 2010). ...