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Liberman-backed biotech readies cash call
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Avecho is poised to launch a capital raising on Monday morning.
Louise Kennerley
Street Talk understands the ASX-listed company is all set to launch a $5 million placement on Monday morning, priced at 2.2¢ a share. Shares in the $43 million company – which is backed by well known investor Bori Liberman – last traded at 2.7¢.
Each share in the raising is expected to come with a one-for-two attached option, that will convert in December 2023 at a 3.5¢ strike price.
It is understood the raise will be cornerstoned by biotech fund Horzion 3, as well as Victorian fund manager Peak Asset Management.