Highlights
- RAD has bolstered its finances with a tax rebate of over AU$4.85 million.
- The refund concerns the R&D activities undertake in FY23.
- The closing date of AU$10 million entitlement offer has been extended to 1 December 2023.
Radiopharm Theranostics Limited (ASX: RAD) has boosted its finances with a research and development tax rebate of over AU$4.85 million under the R&D tax incentive program of the Australian government. The refund is for the R&D activities undertaken by RAD in the financial year 2023 (FY23).
The company will use the funds for advancing developments across its portfolio of radiopharmaceutical products for therapeutic and diagnostic applications.
The R&D tax incentive program of the Australian government provides a refundable tax offset of up to 43.5% to companies engaged in eligible R&D activities.
Closing date of AU$10M entitlement offer extended
RAD announced an entitlement offer designed to raise ~AU$10 million on 31 October 2023. The entitlement offer is due to close on 1 December 2023. Read more.
The date has been extended to enable all eligible shareholders to participate in the offer, giving consideration to feedback received from shareholders regarding the offer.
The date for quotation of new shares on a deferred settlement basis is due on 4 December 2023. The allotment of shares under the offer would occur on 8 December 2023.
RAD shares traded at AU$0.078 midday on 21 November 2023, up 4% from the last close.