Percheron Therapeutics Ltd (ASX:PER, OTC:PERCF) has opened its non-renounceable pro rata entitlement offer to eligible shareholders, building the prospectus and personalised entitlement and acceptance forms available from today.
The company stated eligible shareholders have until 5:00pm AEST on Wednesday, April 8, 2026, to take up their entitlement in full or in part under the offer.
Percheron first outlined the indicative timetable for the offer in its March 16, 2026 announcement, with the current update confirming the offer is now open. Shareholders can access their personalised entitlement and acceptance form online through InvestorServe or request a paper copy of the prospectus and application form through the company secretary.
$2.2 million offer to back HMBD-002 development
Last week, Percheron launched a 2-for-5 non-renounceable entitlement offer to raise up to about $2.2 million before costs, with funds to support development of its lead oncology asset HMBD-002 as well as working capital and offer costs.
The offer is priced at $0.005 per new share, which the company stated represents about a 20% discount to its 5-day volume weighted average price before the capital raising was announced. Eligible shareholders who subscribe for every 2 new shares will also receive 1 free attaching option, exercisable at $0.01 and expiring two years from issue.
Any shares and options not taken up under the entitlement offer will be offered under a shortfall facility on the same terms. Shareholders who take up their full entitlement, along with other investors at the directors’ discretion, may also apply for additional shortfall securities, subject to the scale-back arrangements set out in the prospectus.
Proceeds are intfinished primarily to advance HMBD-002, Percheron’s lead drug candidate tarreceiveing the immune checkpoint regulator VISTA. In October 2025, the company outlined plans for a multi-arm international phase II clinical trial of HMBD-002 across several cancer indications.
That study is designed to deliver early data from an initial cohort of 20 to 30 patients in each arm, with only the strongest-performing arms expected to progress to further recruitment. The company stated funds raised will also be applyd for general working capital, including costs associated with the entitlement and shortfall offers.
The offer is being lead managed by Blue Ocean Equities and Cygnet Capital and is not underwritten. Eligible shareholders are those registered on the record date with addresses in Australia and, subject to offer restrictions, New Zealand, Singapore, Hong Kong or the United Kingdom.
Under the indicative timetable, the offer opened on March 24, 2026, and is scheduled to close at 5pm AEST on April 8, 2026, unless extfinished. Allotment of new shares and options is expected on April 15, with quotation of the new shares anticipated on April 16.
Percheron is a biotechnology company focapplyd on developing and commercialising therapies for oncology and rare diseases. Its lead program, HMBD-002, is a monoclonal antibody tarreceiveing the immune checkpoint regulator VISTA. The company stated the candidate has completed a phase I clinical trial in patients with advanced cancer and was displayn to be generally safe and well tolerated, with further clinical trials tarreceiveed to launch in calfinishar 2026.
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