QBiotics raises AU$22.55 million from existing Sophisticated Investors

20 April 2021

QBiotics Group Limited (QBiotics) has completed a share placement to existing Sophisticated Investors with a total of AU$22,550,577 raised (the Sophisticated Investor Placement). 25,056,197 shares have been allotted at an issue price of AU$0.90 per share to the subscribers under the Offer.

The Sophisticated Investor Placement and the previously announced AU$50 million investment by global investment firm TDM Growth Partners (the TDM Placement) are part of the Board’s previously announced plan to raise up to AU$85 million.

The Directors’ present intention is to offer the opportunity for all existing shareholders to invest at the same issue price as the TDM Placement and Sophisticated Investor Placement, being AU$0.90 per Share.

The Directors plan to lodge an investment prospectus with the Australian Securities & Investments Commission (ASIC) in early May 2021 which will be made available to all existing shareholders. QBiotics will notify all existing shareholders once the prospectus has been lodged with ASIC.