Immuron Announces A$5.1M Private Placement to U.S. Fund

Published at Mar 14, 2018, in ASX Biotechs

Immuron Limited (ASX:IMC; NASDAQ: IMRN) announced today it has finalised a private placement capital raising with a large US institutional investment fund. The terms of the private placement will raise IMC approximately A$5.1 million (before costs of the offer).

The placement will involve the issuance of 13,162,744 new ASX shares at A$0.39 per share, plus three new free-attaching options for every 5 new shares issued resulting in 7,897,647 new options being issued exercisable at A$0.468 per option, expiring five years from the date of issue.

Joseph Gunnar & Co., LLC and H.C. Wainwright & Co. acted as exclusive joint placement agents for the offering, which is expected to complete on March 15, 2018, subject to customary conditions.

IMC expects this capital raise to secure the future funding needs of the company’s other ongoing clinical programs, as well as support ongoing marketing initiatives surrounding the its flagship Travelan product — which has already experienced significant sales growth through the first half of financial year 2018.

CEO Jerry Kanellos commented on today’s news: “Immuron has received a number of recent offers for financial support following the release of the Company’s positive top-line results of its IMM-124E Phase II Non-Alcoholic Steatohepatitis (NASH) clinical study. We’re very pleased that we have been able to partner with this large US institutional investor for this raising and for them to take such a significant position in our Company brings stability and validation to the Company’s share register.”

Of course, it should be noted that Immuron is still a speculative stock and anything can happen. Investors should seek professional financial advice if considering this stock for their portfolio.

This capital raising follows hot on the heels of the company’s major announcement earlier this month that the results were in for its IMM-124E phase II Non-Alcoholic Steatohepatitis (NASH) clinical study.

IMM-124E was shown to result in a statistically significant reduction of serum Lipopolysaccharide (LPS) in patients with NASH. The association between elevated serum LPS and the progression of NASH has been well-documented, and the major news resulted in a significant spike in IMC’s share price as the market took notice.

On the day of the release of results, IMC went from 28 cents to a high of 47 cents:

immuron nasdaq volume

The past performance of this product is not and should not be taken as an indication of future performance. Caution should be exercised in assessing past performance. This product, like all other financial products, is subject to market forces and unpredictable events that may adversely affect future performance.

As part of today’s announcement, IMC stipulated it does not intend to register securities or conduct a public offering in the US at this time, stating “This distribution of this press release may be subject to legal or regulatory restrictions in certain jurisdictions” and “Any person who comes into possession of this press release must inform him or herself of and comply with any such restrictions.”

View Our Investment Portfolios

S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

Publishers Notice

The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.

Australian ASX Small Cap stocks | Why is Australia’s leading small cap publication

Founded seven years ago, is Australia’s leading and longest standing website for investor and finance news, education and expert opinion.

Published by StocksDigital, Finfeed was created to report daily on the comings and goings of ASX listed stocks in the small cap market.

As the first digital publication dedicated specifically to this space, Finfeed soon became the most trusted publication in the market, quickly garnering over two million page views – a number that continues to rise. provides its readers with informative articles that tackle the latest in market moving #ASX small cap news, plus exclusive content you won’t find anywhere else. It is aimed at those with an interest in investing, market education, company performance, start-ups and much more. is the only media organisation operating under the strength of a Financial Services License and is backed by leading journalists and analysts all with brands of their own.

The website aims to inform, educate and entertain with content that drills down into the heart of financial matters.

Finfeed is a leading source of investor and market information, with everything investors need to know about how to invest written in a way that anyone can understand. 

Over the years, the website has expanded beyond exclusively reporting on small caps, to profile Australia’s leading ASX listed small, mid and large caps as well as some of the country’s most successful CEOs and business leaders to find out what makes them tick.

Every day you will find fresh content covering:

Fast Facts

Over 4,000 articles published

Over 2.3 Million Page Views and counting

Over 10,000 followers on social media

Subscriber list growing by 2% monthly

Thanks for subscribing!