Seeking Alpha

Mesoblast closes A$75M capital raising

|About: Mesoblast Limited (MESO)|By:, SA News Editor

Mesoblast (MESO -7.8%) completed A$75M ($50.4M) capital raising via a placement to institutional investors.

The placement will result in the issue of 37.5M new fully-paid ordinary shares at a price of A$2.00 per share.

The net proceeds will be used to build product inventory and potential US commercial launch of remestemcel-L for pediatric steroid-refractory acute graft versus host disease, as well as to complete Phase 3 trials for chronic low back pain and advanced heart failure, working capital and general corporate purposes.

Subscribe for full text news in your inbox