AdAlta Gains Financing Flexibility with Premium Options Exercise

AdAlta Ltd (ASX: 1AD) has received $1.9 million of new equity from the exercise of the listed 1ADOA options.

Providing confidence in the company’s operations, the exercise was led by an existing major shareholder at a 20% premium.

The new funds provided give AdAlta enhanced financing flexibility as it advances strategic partnerships.

In April, AdAlta entered a finance facility with New Life Sciences Capital LLC and also existing shareholder Meurs Group, who holds a 12.5% stake.

The largest shareholder is Platinum International Healthcare Fund with 16.5%.

Cash held at the end of March 2024 was $1.5 million.


AdAlta is a clinical stage drug development company using its proprietary i-body® technology platform to solve challenging drug targeting problems.

The i-body® technology creates a range of unique proteins capable of interacting with high selectivity, specificity and affinity with previously difficult to access targets.

These include the G-protein coupled receptors (GPCRs) that are implicated in many serious diseases.

i-bodies are the first fully human single domain antibody scaffold and the first based on the shark motif to reach clinical trials.

Valuation proposition

AdAlta is capped around $13 million, and with estimated cash in the vicinity of $3 million, the enterprise value is in the $10 million region.

The top 5 shareholders hold a 45% stake, and with funds usually long-term holders, this reduces the free float available to purchase on market.



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