Syntara (ASX:SNT) has raised firm commitments for $8 million through an institutional placement and plans a further $2 million share purchase plan for eligible existing shareholders.
The placement will issue approximately 296.3 million new shares at $0.027 each, a price described in the announcement as a 15.6 per cent discount to the last closing price on 24 April 2026 and a 17.6 per cent discount to the five‑day volume weighted average price to that date.
Tranche 1 will raise about $6.6 million utilizing existing ASX capacity, with settlement expected on 6 May 2026, while Tranche 2 will raise about $1.4 million, subject to shareholder approval at an extraordinary meeting in mid to late June. The planned non‑underwritten share purchase plan will invite existing eligible shareholders in Australia and New Zealand to apply at the same issue price, with individual participation of up to $30,000 and an offer booklet expected mid-May.
Syntara stated the proceeds will provide a cash runway through the third quarter of 2027 and will be applied to fund five key clinical trial readouts over calconcludear 2026, prepare the Phase 2b study of lead asset amsulostat in myelofibrosis, strengthen the company’s pan-LOX patent suite, and meet offer costs. Amsulostat has been granted Fast Track and Orphan Drug designations.
Commenting on the Capital Raising, Syntara Chief Executive Officer Gary Phillips stated, “We’re very grateful for the strong support from our shareholders and new investors in this capital raising, stemming from the positive FDA review of our clinical development plan and Phase 2b protocol for amsulostat. With this injection of capital Syntara is now very well positioned to deliver data from the five clinical studies currently underway for its three pipeline programs and explore the associated commercial potential.”
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