Nyrada (ASX:NYR) Closes Its Share Purchase Plan at A$0.73 Million, With Options Attached

Aditi Sarkar

28 October 2026 04:22 PM AEDT

Nyrada (ASX:NYR) Closes Its Share Purchase Plan at A$0.73 Million, With Options Attached

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Highlights

The securities purchase plan raised A$0.73 million before costs from eligible CDI holders at A$0.620 per CDI.
The company will issue 1,174,004 new CDIs on 30 October 2026, with ASX trading expected from 2 November 2026.
Participants receive three attaching options for every four CDIs, each exercisable at A$0.93 until 25 September 2028.
The placement and plan together bring attaching options on issue to 9,197,050, with ASX quotation to be sought.

Existing holders have had their say. Nyrada Inc. (ASX:NYR), a Delaware-incorporated drug developer whose chess depositary interests trade on the ASX, announced on 28 October 2026 that its securities purchase plan has closed after raising A$0.73 million before costs. Eligible CDI holders on the record date could subscribe for up to A$30,000 each at A$0.620 per CDI.

Issue timetable

The company said 1,174,004 new CDIs are to be issued on 30 October 2026. They will rank equally with existing CDIs and are expected to begin trading on the ASX on 2 November 2026. The plan follows a placement announced on 21 September 2026 and issued on 25 September 2026. The issue was still to be completed when the notice was released.

Attaching options

Participants receive attaching options on a three-for-four basis. The company gave the resulting number as 880,513. Each option has an exercise price of A$0.93 and an exercise period ending on 25 September 2028.

On exercise and payment, the holder receives one CDI and one piggyback option. The announcement does not state the exercise price of the piggyback options, and it says none are granted on exercise until that option's exercise period has expired.

A further 8,316,537 attaching options were issued to placement participants on 25 September 2026, bringing the total on issue from the placement and the plan to 9,197,050. Nyrada will seek quotation of the attaching options, subject to the ASX Listing Rules, though the timing is not stated.

The science behind the company

Nyrada's lead candidate is Xolatryp, a small-molecule inhibitor of TRPC3, TRPC6 and TRPC7 channels. The company said it has completed a Phase I trial and has started a Phase IIa trial in patients with ST-elevation myocardial infarction undergoing percutaneous coronary intervention, assessing cardiac reperfusion injury.

What the notice leaves out

The announcement does not set out how Nyrada intends to use the proceeds, the level of oversubscription or scaling back, or its current cash position. As a results notice, any use-of-funds detail would sit in the offer materials released with the plan.

The attaching options are rights to subscribe for CDIs at a fixed price, so further capital would come to the company only if holders choose to exercise them before the September 2028 expiry. The document does not forecast whether that will occur. It was authorised for release by non-executive chair John Moore.

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