Key Highlights

  • Percheron received firm commitments for a $2.3 million Placement at $0.005 per share, an 8.9% premium to the 15-day VWAP, with one free option for every two shares.
  • Tranche 1 of 300,000,000 shares was issued under existing capacity, while the Options and Tranches 2 and 3 depend on Shareholder approval at the 7 October 2026 AGM.
  • The funds are applied to a Vanderbilt Health investigator-sponsored trial of HMBD-002 in AML and MDS, and to working capital.

Percheron Therapeutics Limited (ASX:PER), a biotechnology company developing therapies for oncology and rare diseases, announced on 1 September 2026 firm commitments for a $2.3 million institutional placement of new shares with free-attaching options. The announcement was not for release to US wire services or distribution in the United States.

Placement structure

Tranche 1 comprises 300,000,000 new shares to unrelated participants, 150,862,330 under Listing Rule 7.1 capacity and 149,137,670 under Listing Rule 7.1A, together with 150,000,000 options that are subject to shareholder approval. Tranche 2, subject to shareholder approval, is up to 138,000,000 shares and 69,000,000 options for unrelated participants. Tranche 3, also subject to approval, is up to 22,000,000 shares and 11,000,000 options for Dr Michael Baker and his related parties, as related parties of the company.

Pricing and option terms

New shares are priced at $0.005, an 8.9% premium to the 15-day Volume weighted average price before the 28 August 2026 trading halt. Options are issued at one for every two new shares, with a strike of $0.01, which is a 100% premium to the last close before the halt, and an expiry of 15 April 2028, matching options issued in the March 2026 entitlement offer. Percheron intends to seek Quotation but says the options will be issued as unquoted if ASX requirements are not met.

Timetable

Tranche 1 shares were expected to be issued on or about 8 September 2026. Shareholder approvals were to be sought at the 2026 AGM on 7 October 2026, with the balance of shares and options expected to be issued on or around 15 October 2026. The company also notes 294.9 million unquoted options (PERAQ) issued under the March entitlement offer, for which it intends to investigate quotation.

Use of funds

The company says the raising fully funds the clinical trial agreed with Vanderbilt Health in Nashville, announced on 28 August 2026, an investigator-sponsored trial of HMBD-002 in acute myeloid leukaemia and myelodysplastic syndrome, with any balance for working capital. Blue Ocean Equities and Cygnet Capital acted as joint lead managers. The release does not state the trial start date or recruitment target.

Share and option numbers

The three tranches total up to 460,000,000 new shares at $0.005, which equals $2.3 million, and up to 230,000,000 options. Tranche 3 involves a related party, Dr Michael Baker and his associates, so approval at the AGM is required. Percheron also issued 294.9 million unquoted options (PERAQ) in its March 2026 entitlement offer on the same terms. Settlement for Tranches 2 and 3 was expected on 14 October 2026, with allotment on 15 October.

Trial arrangements

The clinical trial agreement with Vanderbilt Health in Nashville, Tennessee, announced on 28 August 2026, provides for an investigator-sponsored study of HMBD-002 in acute myeloid leukaemia and myelodysplastic syndrome. Percheron says it will work with the Vanderbilt team to expedite commencement and provide regular updates as it moves toward starting recruitment, so recruitment has not begun.