Recce Pharmaceuticals Announces A$5.0 million Placement & Launches A$10.8 million Entitlement Offer to Shareholders

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Recce Pharmaceuticals
Recce Pharmaceuticals
  • A$5.0 million commitment received from Australian-based private investor

  • A$10.8 million Entitlement Offer at the same offer price as the placement

  • Funds to support Phase III Topical clinical trials in Indonesia and Australia – catalysts for revenue in 2026

  • Directors intend to take up entitlements in part or in full in the Entitlement Offer

SYDNEY, April 10, 2025 (GLOBE NEWSWIRE) -- Recce Pharmaceuticals Ltd (ASX: RCE, FSE: R9Q) (the Company or Recce), a leading developer of a new class of synthetic anti-infectives, today announced a capital raising of up to approximately A$15.8 million (before costs) (Capital Raising) consisting of:

  • Placement to an Australian-based private investor to raise A$5.0 million via the issue of approximately 17.9 million new fully paid ordinary shares in Recce (New Shares) at A$0.28 per New Share (Offer Price) (Placement); and

  • a pro-rata non-renounceable entitlement offer of one (1) New Share for every six (6) existing fully paid ordinary shares in the Company (Shares) held by eligible shareholders at the Offer Price to raise up to a further A$10.8 million (Entitlement Offer).

“We are delighted to receive further support from an existing Australian-based shareholder and are pleased to launch an entitlement offer to all shareholders to acquire new shares at the same price as the placement,” said James Graham, Chief Executive Officer of Recce Pharmaceuticals. “Proceeds from the capital raising will be used to support a Registrational Phase III clinical trial for diabetic foot infections in Indonesia and a Registrational Phase III for ABSSSI across Australia, following a recently announced Phase II ABSSSI clinical study achieving all endpoints.”

Funding for Phase III Trials
Proceeds from the Placement will be applied to the commencement and drive the completion of one of the Phase III trials. Additional proceeds from the Entitlement Offer will be allocated to other programs currently in development by the Company. Recce will look at alternative funding solutions to ensure the full quantum of capital is raised where required.

Full funding will be used as follows:

  • Phase III DFI Registrational Topical Clinical Trial in Indonesia – the catalyst for revenue in 2026;

  • Commencement of Phase III Acute Bacterial Skin and Skin Structure Infections (ABSSSI) Registrational Topical Clinical Trial in Australia; and

  • Additional clinical activities, Investigational New Drug Application to the FDA, and working capital.

Recce will have a strong pro-forma cash position post Capital Raising of A$17.7 million. In addition, the Company expects: