Immunron secures A$5.1M capital raise; shares down 4% premarket

|By:, SA News Editor

Thinly traded nano cap Immunorn Limited (NASDAQ:IMRN) is down 4% premarket on light volume on the heels of its announcement that it has raised A$5.1M via the private placement of stock and options with a U.S. institutional investor.

Specifically, the company issued ~13.2M ordinary shares at A$0.39 plus three five-year options per five new shares exercisable at A$0.468.

Net proceeds will fund clinical trials, marketing activities supporting Travelan and working capital.

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