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Appili Therapeutics - CEO, Armand Balboni.
CEO, Armand Balboni.
Source: Bloom Burton & Co.
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  • Appili Therapeutics (APLI) has announced a C$7 million overnight marketed offering of equity securities
  • The company will use the proceeds to fund research and development activities for its oral COVID-19 antiviral candidate, Avigan/Reeqonus (favipiravir)
  • Proceeds will also go toward its ATI-2307 antifungal program, working capital and general corporate purposes
  • The company expects the offering to close on or about October 14, 2021
  • Appili Therapeutics is a biopharmaceutical company focused on solving life-threatening infections
  • Appili Therapeutics (APLI) is down by 1.37 per cent and is currently trading at $0.72 per share

Appili Therapeutics (APLI) has announced a C$7 million overnight marketed offering of equity securities.

It will issue 8,434,000 units priced at $0.83 per unit for gross proceeds of $7,000,220.

Each unit is comprised of one Class A common share and one-half of one common share purchase warrant.

Each warrant is exercisable into one common share priced at $1.10 for a period of three years following the closing of the offering.

The company will use the proceeds to fund research and development activities for its oral COVID-19 antiviral candidate, Avigan/Reeqonus (favipiravir), including costs associated with a global Phase III trial evaluating Avigan/Reeqonus for the treatment of mild-to-moderate COVID-19.

Proceeds will also support business development initiatives, including its ATI-2307 antifungal program, as well as working capital and general corporate purposes.

The offering will be conducted on a best-efforts agency basis by Bloom Burton Securities, iA Private Wealth, Leede Jones Gable, Research Capital Corporation and Richardson Wealth Limited.

Potential investors are encouraged to consult the prospectus supplement to Appili’s base shelf prospectus dated September 19, 2019.

The company expects the offering to close on or about October 14, 2021.

Appili Therapeutics is a biopharmaceutical company focused on solving life-threatening infections.

Appili Therapeutics (APLI) is down by 1.37 per cent and is currently trading at $0.72 per share as of 1:04 pm ET.

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