Telix Pharmaceuticals Ltd (ASX:TLX) has announced the launch of a capital raise through conducting the Offer to raise $200m comprising an institutional placement to raise $175m and a share purchase plan to raise up to $25m. The capital raise will be used to fund late-stage clinical programs and pipeline expansion
When an ASX-listed company announces a capital raising, it generally means it is selling more shares to raise money.
More often than not, the shares are sold at a discount to the company?s share price at the time to entice new and existing investors.
Following the announcement, shares in Telix Pharmaceuticals Ltd traded 11% lower at $7.20/share.