QRxPharma raises $27 million

QRxPharma Ltd. (ASX:QRX; OTCQX:QRXPY) raised A$25 million ($27 million) through the sale of 17.2 million shares at A$1.45 in a private placement. The price is a 10% discount to QRxPharma's close of A$1.61 on July 19, the last trading day before the offering was announced. RBS Morgans and Bell Potter Securities were joint lead managers. QRxPharma also plans to raise up to an additional A$10.4 million ($11.2 million) through the sale of shares at A$1.45 in a rights issue. Shareholders will be eligible to purchase one share for every 20 held. ...