The placement price of 20 cents is a 15% premium to the company’s volume-weighted average price of 17.43 cents on July 12.
iX Biopharma plans to raise $2.7 million by placing out 13.7 million new shares at 20 cents each to C2C Biopharma, described as the investment vehicle of one Lundy Nath.
According to iX Biopharma, Nath has more than 20 years of corporate experience in the US and Cambodia, in the health and wellness industries and can help generate “new opportunities”.
