Proteomics International Laboratories Ltd (PIQ.AX) To Raise $6.5m Through Institutional Placement

Proteomics International Laboratories Ltd (ASX:PIQ), a pioneer in predictive diagnostics is pleased to announce that it has received firm commitments from new and existing institutional investors for a non-underwritten placement of 8.6 million new fully paid ordinary shares ("New Shares") at A$0.76 per New Share ("Placement Price") to raise A$6.5 million in gross proceeds ("Placement"). The issue price of A$0.76 is at a 11.5% discount to the five-day volume weighted average price and a 16.5% to the last close price as at Monday, 22 January 2024.

Jefferies (Australia) Pty Ltd acted as Lead Manager to the Placement.

Proteomics International Managing Director Dr Richard Lipscombe said, "We are delighted to announce this institutional placement to leading institutional investors in Asia and Australia. These investors have actively researched and engaged with the Company and are investing at a pivotal point ahead of our commercialisation of PromarkerD and further clinical development of our diagnostics pipeline. The support from these institutions will position Proteomics International well to execute on its commercial and development plans."

Placement

Details of the Placement are as follows:

- The Placement is being made to new and existing shareholders and comprises the issue of 8.6 million New Shares for gross proceeds of approximately A$6.5 million

- The New Shares will be issued pursuant to Proteomics International's placement capacity under ASX Listing Rule 7.1 and is expected to settle on Thursday, 25 January 2024

New Shares issued under the Placement will rank pari passu with existing PIQ fully paid ordinary shares from their date of issue.

Concurrent Secondary Sell-Down

Concurrent with the Placement, Proteomics International Founder and Managing Director Dr Richard Lipscombe has agreed to sell approximately 2.6 million shares, representing 14% of his shareholding in the Company ("Sell-Down"). The Sell-Down will take place at the same price at which New Shares are being issued under the Placement. The Sell-Down reflects the first sale of shares by Dr Lipscombe since the Company's inception in 2001 and has been conducted in conjunction with the Placement to facilitate institutional investor participation without additional equity dilution.

Use of Proceeds

The Company will use the proceeds received from the Placement for:

- Commercialisation of the PromarkerD predictive test for diabetic kidney disease

- Development of the Promarker diagnostics pipeline

- General working capital purposes

To view the Indicative Timetable, please visit:
https://abnnewswire.net/lnk/65329JDH

Dr Richard Lipscombe
Managing Director
Proteomics International Laboratories Ltd
T: +61 8 9389 1992
E: enquiries@proteomicsinternational.com

Dirk van Dissel 
Investor Relations & Corporate Advisor
Candour Advisory
T: +61 408 326 367 
E: dirk@candouradvisory.com.au

Kyle Moss
Corporate Advisor
Euroz Hartleys
T: +61 8 9488 1400
E: kmoss@eurozhartleys.com

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