DibbsBarker has acted for QRxPharma Limited (ASX: QRX) in its underwritten institutional placement raising A$8.0 million which was significantly oversubscribed. The company also undertook a fully underwritten 1 for 5 renounceable rights issue to raise a further A$13.6 million. The combined placement and rights issue will raise A$21.6 million.
The rights issue was extended to US shareholders of QRxPharma – one of the few rights issues undertaken by an Australian company to reach US shareholders. DibbsBarker worked closely with US counsel for QRxPharma to negotiate the SEC and state securities laws requirements in the US.
The capital raising will assist QRxPharma in its strategy to fund further Phase 3 drug development and expenditure for its MoxDuo™ IR (immediate release dual opioid) product.
The DibbsBarker team was led by partner Geoff Cairns and included consultant Rob Sauer and associate Piny Ly. For more information please contact Geoff Cairns.
