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Telix Pharmaceuticals Ltd (ASX: TLX) has announced a $200m capital raise

Telix Pharmaceuticals Ltd (ASX: TLX) has announced the launch of a capital raise through conducting the Offer to raise $200m comprising an institutional placement to raise $175m and a share purchase plan to raise up to $25m. The capital raise will be used to fund late-stage clinical programs and pipeline expansion

When an ASX-listed company announces a capital raising, it generally means it is selling more shares to raise money.

More often than not, the shares are sold at a discount to the company’s share price at the time to entice new and existing investors.

Following the announcement, shares in Telix Pharmaceuticals Ltd traded 11% lower at $7.20/share.

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