Why Nyrada (ASX:NYR) is reporting that its Securities Purchase Plan raised A$0.73 million

Sonal Goyal

28 October 2026 04:40 PM AEDT

Why Nyrada (ASX:NYR) is reporting that its Securities Purchase Plan raised A$0.73 million

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Key Highlights

The plan raised A$0.73 million before costs, with 1,174,004 new CDIs issued at A$0.620 each on 30 October 2026.
Participants receive attaching options on a three-for-four basis, exercisable at A$0.93 until 25 September 2028.
The announcement does not set out the use of proceeds or Nyrada's current cash position.

The raise

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 had 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 an issue price of A$0.620 per CDI.

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.

Attaching options

Participants in the plan receive attaching options on a three-for-four basis, meaning three options for every four CDIs subscribed. The company said this results in 880,513 attaching options. The announcement's own ratio would imply 880,503, so the figure of 880,513 appears to differ by ten options, and the document does not explain the difference.

Each attaching option has an exercise price of A$0.93 and an exercise period ending on 25 September 2028. On exercise and payment of the exercise price, the holder receives one CDI and one piggyback option. The announcement does not state the exercise price of the piggyback options, and it says no piggyback options are granted on exercise of an attaching option until that option's exercise period has expired.

A further 8,316,537 attaching options were issued to placement participants on 25 September 2026. Together, the company said the total attaching options on issue as a result of the placement and the plan is 9,197,050. Nyrada said it will seek quotation of the attaching options, subject to the ASX Listing Rules.

About 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 announcement does not say

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. The document is a results notice, and any information on the use of funds would be in the offer materials released with the plan, which were not reviewed here. The options and the new CDIs are subject to the usual issue mechanics, and the timing of quotation of the attaching options is not stated.

The announcement was authorised for release by the non-executive chair, John Moore. Investors should note that the attaching options are rights to subscribe for CDIs at a fixed price, so any further capital would come to the company only if holders choose to exercise them before the September 2028 expiry, and the document does not forecast whether that will occur. The CDIs and options described are proposed to be issued on 30 October 2026, two days after the announcement date, so the issue itself was still to be completed when the notice was released.

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