Cynata Therapeutics entitlement offer raises $235,150 in applications, underwriter to take up the rest
Cynata Therapeutics has reported the results of its fully underwritten pro-rata renounceable entitlement offer (Entitlement Offer), which closed at 5.00 pm AEDT on Tuesday, 27 October 2026. Valid applications from Eligible Shareholders totalled 23,514,945 New Shares and 7,838,315 Entitlement Options, raising approximately $235,150 (before costs).
That represents an overall take-up of approximately 25.8% of the New Shares offered. Following completion of the Entitlement Offer, the Company expects to raise a total of approximately $912,962 (before costs).
Full underwriting by Caravel Securities Pty Ltd means the remaining securities will be taken up by the Underwriter despite the modest shareholder take-up.
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How the Entitlement Offer was structured
Eligible Shareholders had a registered address in Australia, New Zealand or Singapore on the record date. The key terms were:
- Three New Shares for every eight shares held
- One free attaching option for every three New Shares issued (Entitlement Options)
- Issue price of $0.01 per New Share
- Record date of 13 October 2026, for Eligible Shareholders with a registered address in Australia, New Zealand and Singapore
- Offer made under a replacement prospectus lodged with ASIC and ASX on 12 October 2026
The remaining securities, known as the Shortfall Securities, will be subscribed for by the Underwriter in accordance with the Underwriting Agreement summarised in the Prospectus.
| Component | New Shares | Entitlement Options | Source |
|---|---|---|---|
| Shareholder applications | 23,514,945 | 7,838,315 | Eligible Shareholders |
| Shortfall Securities | 67,781,296 | Approximately 22,593,765 | Underwriter, Caravel Securities Pty Ltd |
What is a fully underwritten entitlement offer?
A pro-rata entitlement offer gives existing shareholders the right to buy new shares in proportion to their current holding. Renounceable means those rights can be traded or transferred to someone else.
Underwriting means an underwriter commits to take up any shares that shareholders do not, so the raise is certain. For investors, the share count rises, attaching options may add capital if exercised in future, and lower take-up shifts more of the new shares to the Underwriter.
What happens next for Cynata shareholders
The source states two upcoming events:
- Issue of New Shares, Entitlement Options and Underwriter Options: expected Tuesday, 3 November 2026, by the Company.
- Normal settlement trading of New Shares: expected to commence Wednesday, 4 November 2026.
New Shares issued under the Entitlement Offer will rank equally in all respects with the Company’s existing fully paid ordinary shares. The Entitlement Options and Underwriter Options will not be quoted, will have an exercise price of $0.02, and will be exercisable on or before 3 May 2029.
The Board thanked all shareholders who participated for their continued support.
Cynata’s core asset is currently the Cymerus™ platform, which offers an approach to manufacturing mesenchymal stromal cells at commercial scale from a single, consistent cell source. The Board is focused on evaluating future development pathways for the technology, seeking opportunities to realise value from the Cymerus™ technology and obtaining rights to new assets.
The Phase 3 knee trial failure in June 2026, where an unexpectedly high placebo response erased any measurable treatment effect on both co-primary endpoints, is the backdrop to the Board’s current review of the Cymerus technology.
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