\$21M Placement to US & European Institutions Global nanotechnology company pSivida Limited (ASX: PSD), is pleased to
announce the placement of 19.3 million fully paid ordinary shares at US\$0.80
(A\$1.09), to raise \$21 million before costs, with large US and European
institutions. The shares were placed through New York based Securities
Dealers, Hunting Party Securities Ltd and Maxim Group and Los Angeles
based Cappello Corporation.
The successful placement follows a series of institutional presentations in the
US and Europe.
Importantly the addition of new US and further European based institutions
further strengthens pSivida`s already strong overseas shareholder base,
increasing its representation from around 30% to around 40%. The widening
of pSivida`s institutional shareholding is also pleasing as the Company
examines future listing opportunities both in the US and UK.
pSivida Managing Director, Mr Gavin Rezos said, " The introduction of further
quality institutions, particularly in the US, is important as pSivida looks to
expand its presence in the important US and European markets. It also
serves to provide further international validation of BioSilicon`sTMsignificant commercial promise."
The capital raising places the Company in a strong financial position, with
opportunities to accelerate both R&D and commercialization activities
particularly in the key focus areas of controlled slow release drug delivery and
diagnostics and to build on the Phase IIa clinical trial on the Company`s lead
product, BrachySilTM, commencing in May in Singapore."
pSivida has also recently been added by S&P to the ASX 300 on 19 March
2004.
-ENDS-
Released by:
Josh Mann
Investor Relations
pSivida Limited
Tel: + 61 8 9226 5099
joshuamann@psivida.com.au
announce the placement of 19.3 million fully paid ordinary shares at US\$0.80
(A\$1.09), to raise \$21 million before costs, with large US and European
institutions. The shares were placed through New York based Securities
Dealers, Hunting Party Securities Ltd and Maxim Group and Los Angeles
based Cappello Corporation.
The successful placement follows a series of institutional presentations in the
US and Europe.
Importantly the addition of new US and further European based institutions
further strengthens pSivida`s already strong overseas shareholder base,
increasing its representation from around 30% to around 40%. The widening
of pSivida`s institutional shareholding is also pleasing as the Company
examines future listing opportunities both in the US and UK.
pSivida Managing Director, Mr Gavin Rezos said, " The introduction of further
quality institutions, particularly in the US, is important as pSivida looks to
expand its presence in the important US and European markets. It also
serves to provide further international validation of BioSilicon`sTMsignificant commercial promise."
The capital raising places the Company in a strong financial position, with
opportunities to accelerate both R&D and commercialization activities
particularly in the key focus areas of controlled slow release drug delivery and
diagnostics and to build on the Phase IIa clinical trial on the Company`s lead
product, BrachySilTM, commencing in May in Singapore."
pSivida has also recently been added by S&P to the ASX 300 on 19 March
2004.
-ENDS-
Released by:
Josh Mann
Investor Relations
pSivida Limited
Tel: + 61 8 9226 5099
joshuamann@psivida.com.au