Imugene Secures $22.5 Million in Capital Raise Launches $15 Million Share Purchase Plan

Highlights:

• Imugene Limited (ASX: IMU) raised $22.5 million through a well-supported institutional placement at $0.33 per share, with a follow-up Share Purchase Plan (SPP) aiming to raise up to an additional $15 million.
• Investors will receive three free listed options for every four new shares, plus one “Piggyback Option” for each exercised option, potentially adding $36.6 million in future funding.
• Funds will support the azer-cel program through to a pivotal Phase 2 trial in CY26, with the company’s cash runway expected to extend into mid-2027.

Strong Institutional Demand Supports Strategic Growth Plans

Imugene Limited (ASX: IMU) has successfully completed a $22.5 million capital raise through a well-supported institutional placement, issuing 68.2 million new fully paid ordinary shares at $0.33 per share. The raise attracted firm commitments from both domestic and international institutional and sophisticated investors. At the time of writing, Imugene’s share price stands at $0.33.

This fundraising initiative represents a 22.4% discount to the company's last closing price of $0.425 on July 11 and a 19.6% discount to its five-day volume-weighted average price (VWAP). In addition to the placement, the clinical-stage immuno-oncology company has launched a Share Purchase Plan (SPP) to raise up to a further $15 million from existing eligible shareholders, under the same pricing terms.

Free Attaching Options Enhance Investor Value

As part of the capital raise, participants in both the placement and the SPP will receive three free listed options for every four new shares subscribed for. These options carry an exercise price of $0.43 and expire on 30 March 2026. Furthermore, for every one of these options exercised, investors will be issued an additional “Piggyback Option” with an exercise price of $0.86 and expiry on 30 June 2028. Both options are subject to shareholder approval and are intended to be listed on the ASX.

Funding Key Clinical Trials and Extending Cash Runway

Proceeds from the offer will primarily support the advancement of Imugene’s azer-cel program through to a pivotal Phase 2 clinical trial expected in calendar year 2026. Following the completion of the offer, Imugene anticipates a pro forma cash balance of $64 million, with further potential funding of $36.6 million if all options are exercised—extending its cash runway into mid-2027.

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