mesoblast capital raising

Melbourne, Australia; October 3, 2019; and New York, USA, October 2, 2019: Mesoblast Limited (ASX: MSB; Nasdaq: MESO), leader in cellular medicines for inflammatory diseases, announced today that it has successfully completed a A$75 million capital raising via a placement to existing and new Australian and global institutional investors. Mesoblast announced plans to test the product in March, kicked off an early stage trial in April with some "promising results in ventilator-dependent COVID-19 patients", and has since upped the testing regime.On May 6, the company said it had started a 300-patient randomised placebo-controlled "Phase 2/3" trial in the United States, which would include up to 30 sites across North America.To help fund it, and on the back of a share price rally, Mesoblast is seeking to issue new shares worth $100 million.Mesoblast's house broker, Bell Potter Securities, was offering clients 31.2 million new shares at $3.20 each on Monday.The raising was priced at $3.20 a share which was a 7 per cent discount to the last close and an 8.8 per cent discount to the 10 day VWAP, according to terms sent to fund managers.Bell Potter was calling for bids by midday on Tuesday. We make such forward-looking statements pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. If the company is successful, the next hurdle will be the overcoming limited manufacturing capabilities, which is why Mesoblast is getting prepared early and explains the recent $138 million capital raise. This price represents a 3.15% discount to the 10 day VWAP at the close of trading on September 30, 2019.The net proceeds will principally be used to build product inventory and a targeted United States sales force in preparation for the potential United States commercial launch of remestemcel-L in the treatment of pediatric steroid-refractory acute graft versus host disease. Settlement is expected to occur on Monday, October 7, 2019. Funds raised would be used to further development of the COVID-19 treatment including manufacturing scale up, the term sheet said.The deal was undewritten, ensuring Mesoblast gets its $100 million equity injection.It's the latest in a long line of capital raisings by Mesoblast. The Company has leveraged its proprietary cell therapy technology platform to establish a broad portfolio of commercial products and late-stage product candidates. Melbourne, Australia; October 3, 2019; and New York, USA, October 2, 2019: Mesoblast is a world leader in the development of allogeneic (off-the-shelf) cellular medicines. Uncertainties and risks that may cause Mesoblast's actual results, performance or achievements to be materially different from those which may be expressed or implied by such statements, and accordingly, you should not place undue reliance on these forward-looking statements. In the United States, Mesoblast has initiated submission of a rolling Biologics License Application to the FDA to seek approval of its product candidate for acute graft versus host disease following a successful Phase 3 trial, and is completing Phase 3 trials for its advanced heart failure and chronic low back pain product candidates. The company said a significant portion of the net proceeds will be used to scale-up manufacturing of its lead product candidate remestemcel-L for the treatment of critically ill patients suffering diseases caused by cytokine release syndromes associated with high mortality, particularly COVID-19 acute respiratory distress syndrome (ARDS).The company recently announced a randomised controlled Phase 2/3 trial in up to 300 patients evaluating whether remestemcel-L can reduce mortality in COVID-19 patients with moderate/severe ARDS.

Mesoblast (MESO -7.8%) completed A$75M ($50.4M) capital raising via a placement to institutional investors.The placement will result in the issue of 37.5M new fully-paid ordinary shares at a price of Mesoblast’s novel allogeneic product candidates are based on rare (approximately 1:100,000 in bone marrow) mesenchymal lineage cells that respond to tissue damage, secreting mediators that promote tissue repair and modulate immune responses. Serial capital raiser Mesoblast is back in front of fund managers seeking another equity top up.This time it is asking for $100 million to help develop its COVID-19 angle, which involves using one of its Silviu Itescu, the chief executive of Mesoblast, is pitching for capital on Monday. We do not undertake any obligations to publicly update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise. Sydney Airport is looking to raise $2 billion in a capital raising. Its most recent share issue was in Before that, it stitched up a $US50 million funding round with NovaQuest Capital Management in July 2018, and a $US75 million four year credit facility with Hercules Capital also in 2018.Mesoblast had a $1.85 billion market capitalisation prior to Monday's raising.