Cynata Successfully Completes Capital Raising

Melbourne, Australia; 23 January 2017: Australian stem cell and regenerative medicine company, Cynata Therapeutics Limited (ASX: CYP), has successfully completed a placement of approximately 9.23 million fully-paid ordinary shares at a price of $0.65, for gross proceeds of A$6.0 million before costs (“Placement”). The Placement was made to existing and new sophisticated and institutional investors. Settlement of the Placement, which was heavily over-subscribed, is expected to occur on or about 27 January 2017 with the shares to be issued on 30 January 2017. The Placement shares will be issued under Cynata’s existing placement capacity under Listing Rules 7.1 and 7.1A, and accordingly will not require shareholder approval.  [Read more…]