Opthea Successfully Completes Institutional Offer and Increases Capital Raising to A$90.0M ($57.6M)
Portfolio Pulse from Benzinga Newsdesk
Opthea Limited has successfully completed the institutional component of its capital raising, which was announced on August 24, 2023. The company raised approximately A$73.7m through a non-underwritten institutional placement and the institutional component of a fully underwritten entitlement offer. Due to strong demand, Opthea accepted A$10.0 million of oversubscriptions in the placement, raising the capital to A$90m (US$57.6 million).
August 28, 2023 | 9:34 am
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Opthea Limited's successful capital raising and the acceptance of oversubscriptions due to strong demand could potentially boost investor confidence and positively impact the company's stock price.
The successful capital raising indicates a strong demand for Opthea's shares among institutional investors. This could potentially boost investor confidence in the company and lead to an increase in the stock price in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100