A$4.4 million of valid applications received for the Share Purchase Plan In conjunction with recently completed A$8.0 million institutional placement, total amount raised is A$12.4 million Proceeds will be used to advance clinical trials for intravenous use of R327, topical applications of R327G, including Phase III clinical activities in Indonesia, and IND-enabling activities Pro forma cash position of A$19.8 million SYDNEY, Aug. 06, 2024 (GLOBE NEWSWIRE) -- Recce Pharmaceuticals Ltd (ASX: RCE, FSE: R9Q) (Recce or the Company), a leading developer of a new class of synthetic anti-infectives, today announced the successful close of its Share Purchase Plan (SPP) reported on July 2, 2024. The SPP generated significant support from Recce's existing shareholders, and the applications received exceeded the initial SPP target of A$2.0 million. Recce received total applications for fully paid ordinary shares (Shares) of approximately A$4.4 million. In accordance with the terms of the SPP, the Board has exercised its discretion and determined to accept all valid applications in full to raise a total of A$4.4 million under the SPP. Approximately 9.9 million new Shares will be issued for A$0.45 per Share, the same issue price as the Placement. They will rank equally with existing ...