Lantheus continues support as strategic investor with A$7.6 million investment in the placement, increasing its shareholding to 14.5%
Share Purchase Plan for existing eligible shareholders in Australia and New Zealand to raise a further A$5 million (approx.) at A$0.03 per share
Participants in the Placement and the Share Purchase Plan will receive one (1) free attaching option for every one (1) new share subscribed for under the offer, with an exercise price of A$0.039 and expiration of 31 October 2027
The proceeds of the capital raising will primarily be used to fund drug manufacturing, clinical trials and working capital, extending the funding runway into 2027 and past a number of key milestones
SYDNEY, Oct. 20, 2025 (GLOBE NEWSWIRE) -- Radiopharm Theranostics Limited ((ASX:RAD, NASDAQ:RADX), a developer of a world-class platform of radiopharmaceutical products for both diagnostic and therapeutic uses, is pleased to announce it has received firm commitments from international and Australian institutional and industry investors (Placement Subscribers), including Lantheus Holdings, Inc. (Lantheus), to raise approximately A$35.0 million (before costs) by way of a private placement (Placement) of 1,167 million new fully paid ordinary shares (approx.) (Placement Shares) in the Company at a price of A$0.03 per share (Placement Price).
Under the Placement, Placement Subscribers are anticipated to receive one (1) free attaching option for every one (1) Placement Share subscribed for under the Placement (Attaching Options). The Attaching Options will have an exercise price of A$0.039 per option with an expiration of 31 October 2027 and will be subject to shareholder approval. It is intended that the Attaching Options will be quoted on the ASX. The full details of the rights and liabilities attaching to the Attaching Options are annexed to this announcement.
The Placement is being followed by a Share Purchase Plan (SPP), to raise up to A$5 million, for existing eligible shareholders with registered addresses in Australia or New Zealand (Eligible Shareholders), with applications up to a maximum of A$30,000. The SPP will be made to Eligible Shareholders on the same terms as the Placement and the Attaching Options issued under the SPP will be subject to shareholder approval.
The funds raised from the Placement and SPP (together, the Offer), together with the company's existing cash balance1 will be used for:
Drug Manufacturing, A$6m;
Clinical Trials, A$34m; and
Administration, working capital, corporate costs and offer costs, A$19m
Riccardo Canevari, Chief Executive Officer & Managing Director, said "We are very pleased to have successfully completed this A$35 million placement, which strengthens our financial position and provides funding to advance our six clinical programs through a number of important upcoming milestones. We are particularly grateful for the continued support of Lantheus, whose ongoing strategic investment represents a strong endorsement of Radiopharm's strategy, technology, and potential to make a meaningful impact in the field of radiopharmaceuticals."
Placement details
RAD has received firm commitments from institutional and sophisticated investors for a A$35 million Placement of approximately 1,167 million Placement Shares in the Company to Placement Subscribers for the Placement Price. The Placement Price represents a discount of:
18.9% to the last close of A$0.037 on 15 October 2025; and
17.6% to the 5-day VWAP of A$0.036 up to and including 15 October 2025.
11.8% to the 15-day VWAP of A$0.034 up to and including 15 October 2025.
Lantheus continues support as strategic investor with A$7.6 million (US$5.0 million) investment in the Placement.
A$12.5 million (~415.7 million Placement Shares) will be issued on Friday, 24 October 2025 (Tranche 1 Placement), using RAD's existing placement capacity with ~326.6 million Placement Shares to be issued under Listing Rule 7.1 and ~89.1 million Placement Shares to be issued Listing Rule 7.1A. The remaining A$22.5 million (~751.0 million Placement Shares) will be issued subject to shareholder approval at an upcoming Extraordinary General Meeting (EGM) (Tranche 2 Placement).
Subject to shareholder approval at an upcoming EGM, Placement Subscribers will also receive one (1) Attaching Option for every one (1) Placement Share issued, with an exercise price of A$0.039 and an expiry date of 31 October 2027, a total of ~1,167 million Attaching Options.
The Placement Shares to be issued will rank equally with existing RAD fully paid ordinary shares.
An EGM to approve the Tranche 2 Placement and the Attaching Options is anticipated to be held in early December 2025.
For more information:
Riccardo CanevariCEO & Managing DirectorP: +1 862 309 0293E:
Paul Hopper Executive Chairman E:
Matt WrightNWR CommunicationsP: +61 451 896 420E:
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Not an offer of securities This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States or any other jurisdiction. Any securities described in this announcement have not been registered under the US Securities Act of 1933 and may not be offered or sold in the United States except in transactions registered under the US Securities ...
