Emyria Secures $2.525M in Strongly Supported Placement
Released
Released
Announcement PDF
Developing & delivering new treatments for mental
health & neurological conditions
ASX Announcement | 27 November 2024
Emyria Receives Firm Bids of $2.525M in Strongly Supported Placement
HIGHLIGHTS
Firm bids received from new and existing sophisticated and professional investors for a
placement of $2.525M (before costs) at $0.035 per share (“Placement”)
Chairman Greg Hutchinson provided a significant cornerstone, subscribing for $1,000,000
(subject to shareholder approval)
Funds to support expansion of mental health treatment services at Emyria’s Empax Centre including a recently approved treatment-resistant depression program
Emyria is actively engaged with major health funds to explore sustainable funding for its
programs
Emyria Limited (ASX: EMD) “Emyria”, or the “Company”) developing and delivering new
treatments for mental health and select neurological conditions, has accepted firm bids of
$2.525M (before costs) from new and existing sophisticated investors.
Use of Proceeds
Funds raised will support the continued expansion of Emyria’s bespoke treatment programs
for major unmet mental health needs. These include Emyria’s Post-Traumatic Stress Disorder
(‘PTSD’) program, which is already delivering industry leading results 1, and the Company’s
newly approved program for treatment-resistant depression.2
PTSD and treatment-resistant depression represent large, unmet needs affecting over
1,000,000 Australians collectively.3 With world-class facilities and unique care programs backed by an experienced clinical team- as well as active engagement from a number of
large health payers, Emyria is uniquely positioned to scale its model to further improve
patient access and wellbeing.3
“Australia’s mental health crisis is escalating rapidly,
underscoring the urgent need for more effective solutions.
As a leader in world-class mental health programs, Emyria
is uniquely positioned, and obligated, to address this
challenge.
As the only ASX-listed company delivering direct care in
this field, our mission is clear: to expand access to our
innovative treatments, improving the lives of more
Australians.”- Greg Hutchinson, Chairman
Emyria ASX Announcement | 27 Nov 2024
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Details of the Placement:
The Placement comprises the issue of approximately 72,142,858 fully paid ordinary shares at
$0.035 each (“Placement Shares”) representing a 10.26% discount to the last traded price as
at 22 November 2024. Or a 3.13% discount to the 15-day volume-weighted average price
(‘VWAP’).
The Placement Shares will be issued in two tranches. The first tranche of approximately
43,571,429 Placement Shares will be issued pursuant to the Company’s available placement
capacity under ASX Listing Rule 7.1 and will raise $1.525M (before costs). Chairman, Greg
Hutchinson, provided a cornerstone investment of $1,000,000. The second tranche of
approximately 28,571,429 Placement Shares to be issued to Chairman Greg Hutchinson (or
nominee) to raise $1,000,000 will be issued subject to shareholder approval to be sought at
a General Meeting of shareholders expected to be held in February 2025.
62 Capital Pty Ltd (“62 Capital”) served as Lead Manager for the Placement and has elected
to receive its 6% capital raising fee for funds directly raised under the Placement in fully paid
ordinary shares, issued at the Placement price of $0.035 each. This equates to 1,628,571
shares, which will be issued under the Company’s ASX Listing Rule 7.1 placement capacity.
Settlement of the first tranche of the Placement is expected to occur on or around Monday,
9 December 2024 with the issue of the first tranche of Placement Shares expected to occur
on or around Wednesday, 11 December 2024.
References:
1.
See ASX release 02 September 2024
2.
See ASX release 25 November 2024
3.
AIHW (Australian Institute of Health and Welfare) (2023) Australian Burden of Disease Study
2023, AIHW, Australian Government
This release has been approved by the Board of Emyria.
For further information, investment opportunities, or more about our approach to
mental health treatment, please contact:
Managing Director
Michael Winlo
+61 (0) 8 6559 2800
mwinlo@emyria.com
Emyria ASX Announcement | 27 Nov 2024
Media Contact
Haley Chartres
+61 (0) 423 139 163
haley@hck.digital
Corporate Advisor
Sufian Ahmad
+61 (0) 412 316 162
info@62capital.com.au
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emyria.com
Emyria Limited develops and delivers new treatments for mental health and select neurological
conditions through through an integrated model of direct clinical services and drug development:
generates
Emyria Healthcare: Evidence-based treatment for patients not finding relief from
conventional care while also helping evaluate emerging new therapies like
MDMA-assisted therapy for PTSD and psilocybin-assisted therapy for depression.
Emyria Data: Robust and ethically-sourced Real-World Data gathered with patients
and used to improve Emyria’s unique therapy and drug development programs.
informs
Emyria’s Pipeline: New psychedelic-assisted therapies and drug treatments for mental
health and select neurological diseases.
EMYRIA’S INTERACTIVE INVESTOR HUB
Investorhub.emyria.com Interact with Emyria’s announcements and updates
by asking questions and comments, which our team can respond to where possible.
CAUTIONARY NOTE ON FORWARD-LOOKING STATEMENTS Any statements in this press release
about future expectations, plans and prospects for the Company, the Company’s strategy, future
operations, and other statements containing the words “anticipate,” “believe,” “estimate,” “expect,”
“intend,” “may,” “plan,” “predict,” “project,” “target,” “potential,” “will,” “would,” “could,” “should,”
“continue,” and similar expressions, constitute forward-looking statements. Actual results may differ
materially from those indicated by such forward-looking statements as a result of various important
factors, including: the Company’s ability to successfully develop its product candidates and timely
complete its planned clinical programs and the Company’s ability to obtain marketing approvals for
its product candidates. In addition, the forward-looking statements included in this press release
represents the Company’s views as of the date hereof. The Company anticipates that subsequent
events and developments will cause the Company’s views to change. However, while the Company
may elect to update these forward-looking statements at some point in the future, the Company
specifically disclaims any obligation to do so. These forward-looking statements should not be relied
upon as representing the Company’s views as of any date subsequent to the date hereof.
Risks associated with the use of Psilocybin and MDMA
All medicines carry risks and specialist prescribers, such as registered psychiatrists, are best
placed to assess the suitability of a new medication against a patient’s individual
circumstances and medical history before proceeding. Adverse effects of psilocybin can
include temporary increase in blood pressure and a raised heart rate. Adverse effects of
MDMA include high blood pressure, increased pulse rate, faintness, and panic attacks, and in
some rare cases it can cause loss of consciousness or trigger seizures. Other side effects
include involuntary jaw clenching, decreased appetite, restless legs, nausea, headache,
sweating and muscle/joint stiffness. These effects of psilocybin and MDMA are unlikely at
low doses in the treatment regimens used in psychedelic-assisted psychotherapy while
appropriately managed in a controlled environment with direct medical supervision.
Emyria ASX Announcement | 27 Nov 2024
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