Recce Pharmaceuticals Ltd (ASX:RCE) has lodged a transaction specific prospectus offering a total of 5,125,000 Attaching Options for nil consideration and up to 10,250,000 Piggyback Options for nil consideration, with the offers opening on 4 November 2026 and closing at 5.00 pm AEDT on 12 November 2026.

Key Points

  • 5,000,000 Placement Attaching Options offered for nil consideration, exercisable at $0.60 and expiring 30 June 2027, on the basis of one option for every two shares issued to Placement Participants
  • 125,000 Spark Plus Options offered for nil consideration, exercisable at $0.60 and expiring 30 June 2027, on the basis of one option for every two Consultant Shares issued to Spark Plus
  • Up to 10,250,000 Piggyback Options offered for nil consideration, exercisable at $1.00 and expiring 30 June 2028, being two Piggyback Options for every Attaching Option exercised
  • The Attaching Options and Piggyback Options will be unlisted and cannot be traded on ASX

Terms of the Attaching Options Offer

According to the filing, Recce Pharmaceuticals is offering 5,000,000 new Attaching Options to Placement Participants on the basis of one Attaching Option for every two shares issued under the Placement. A further 125,000 Attaching Options are being offered to Spark Plus on the basis of one option for every two Consultant Shares issued to that entity. All Attaching Options are issued for nil consideration, carry an exercise price of $0.60 each, and expire on 30 June 2027. The prospectus has been prepared in accordance with section 713 of the Corporations Act.

Piggyback Options Structure and Exercise Terms

The filing discloses that up to 10,250,000 Piggyback Options are being offered for nil consideration, with each Piggyback Option exercisable at $1.00 and expiring on 30 June 2028. The basis of the Piggyback Options offer is two Piggyback Options for every Attaching Option exercised. The company has stated it will not apply for quotation of the Attaching Options or Piggyback Options on ASX, meaning all options issued under this prospectus will be unlisted and not tradeable on the exchange. The filing notes no underwriting applies to the offers.

Offer Period and Purpose of the Prospectus

The offers open on 4 November 2026 and close at 5.00 pm AEDT on 12 November 2026. The prospectus states it has been prepared for the purposes of making the offers and to facilitate secondary trading of shares issued on the exercise of the options. The filing notes that an investment in the options offered under this prospectus should be considered speculative and that no cooling-off rights apply to the offers. No transfer of entitlements under the offers is permitted, and no minimum or maximum subscription has been disclosed in the summary terms.