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  • Appili Therapeutics (APLI) has closed its 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
  • Appili Therapeutics is a biopharmaceutical company focused on solving life-threatening infections
  • Appili Therapeutics (APLI) is up 2.82 per cent, trading at $0.73 per share

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

The company issued 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 was led by Bloom Burton Securities, iA Private Wealth, Leede Jones Gable, Research Capital Corporation and Richardson Wealth Limited. As partial consideration for its services in connection with the offering, the Lead Agent received 128,674 broker warrants.

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

Appili Therapeutics (APLI) is up 2.82 per cent, trading at $0.73 per share as of 1:04 pm ET.

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