Universal Biosensors signs term sheet for A$10M entitlement offer at A$0.15/CDI with options

UNIVERSAL BIOSENSORS INC

A$10M pro rata non-renounceable entitlement offer to eligible CDI holders at A$0.15/CDI.
Each CDI purchased includes one option (3-year term, exercise price A$0.20) to acquire an additional CDI.
Underwriter may receive up to 13,849,567 options (approx. 5% of A$10M) or A$600,000 cash (6%) as compensation.
Offer subject to definitive underwriting agreement, ASX and stockholder approvals, and charter amendment to increase authorized shares.
U.S. persons excluded from participation; securities offered under Regulation S.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

UNIVERSAL BIOSENSORS INC entered into Underwriting Term Sheet with an underwriter named in the Underwriting Term Sheet valued at A$10 million (effective 2024-02-28).

Action: entry
Agreement: underwriting
Counterparty: an underwriter named in the Underwriting Term Sheet
Value: A$10 million
Effective: 2024-02-28

Exact text from the filing

On February 28, 2024, Universal Biosensors, Inc. (the “Company”) entered into a binding equity underwriting term sheet (the “Underwriting Term Sheet”) with an underwriter named in the Underwriting Term Sheet (the “Underwriter”), whereby the Underwriter has agreed to fully underwrite a A$10 million pro rata non-renounceable entitlement offer to eligible existing holders of CHESS Depositary Interests (“CDIs”)

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Source: SEC EDGAR

accession 0001437749-24-006569

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