MELBOURNE, Australia--(BUSINESS WIRE)--Melbourne based biotechnology company Avexa Ltd (ASX:AVX) announced today that it has closed its $60 million rights issue with total share applications of $76 million. The Company raised $50.2 million through the rights issue, with a shortfall of $10.0 million. The shortfall will be met through the issue of shares under the raising’s oversubscriptions program. The Company received a total of $25.8M in oversubscription applications. The issue was fully underwritten by ABN AMRO Morgans Corporate Limited, however, due to the oversubscriptions no shares are required to be taken up by the Underwriter.
