Mesoblast closes A$75M capital raising

Oct. 03, 2019 12:11 PM ETMesoblast Limited (MESO)MESOBy: Vandana Singh, SA News Editor3 Comments
  • 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.
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