Apollomics Announces ~$6M Private Placement Financing; Pursuant To The Terms Of The Subscription Agreements, Co Is Selling An Aggregate Of 19,166,666 Class A Ordinary Shares At A Price Of $0.30/Share
Portfolio Pulse from Benzinga Newsdesk
Apollomics Inc. (NASDAQ:APLM) announced a private placement financing deal expected to generate approximately $6 million in gross proceeds. The company will sell around 19.2 million Class A ordinary shares at $0.30 each to both new and existing investors. The financing is set to close on May 8, 2024, and the funds will be used to support Apollomics' oncology drug development programs and for general corporate purposes.
May 08, 2024 | 9:28 pm
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Apollomics Inc. is set to raise $6 million through a private placement, selling 19.2 million shares at $0.30 each, aiming to fund its oncology drug development and for general corporate use.
The announcement of a successful private placement financing indicates positive investor sentiment and provides essential funding for Apollomics' operations and drug development programs. This influx of capital is likely to be viewed positively by the market, potentially leading to a short-term uptick in APLM's stock price. The specific allocation of funds towards advancing its oncology drug candidates and for general corporate purposes underscores the company's ongoing commitment to its core research and development activities, which could further bolster investor confidence.
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