Bio-Gene Secures $2.45M to Accelerate Bio-Insecticide Innovations
Bio-Gene Technology Limited has raised $338,500 through a Share Purchase Plan, contributing to a total capital raise of $2.45 million to advance its bio-insecticide products.
- Share Purchase Plan raised $338,500 via 14.7 million shares at 2.3 cents each
- Total capital raised including prior placement reaches $2.45 million
- Eligible shareholders to receive options exercisable in 2028 and 2030
- Funds earmarked for regulatory studies, product scale-up, and commercial partnering
- Shareholder approval for option grants expected by mid-July 2025
Capital Raise Completes with Share Purchase Plan
Bio-Gene Technology Limited (ASX, BGT), an Australian innovator in natural bio-insecticides, has successfully closed its 2025 Share Purchase Plan (SPP), raising $338,500 through the issuance of over 14.7 million shares at 2.3 cents each. This latest tranche complements a prior placement announced in early May, bringing the total capital raised to $2.45 million before costs.
Incentivising Shareholders with Future Options
In a move designed to reward and retain shareholder support, Bio-Gene plans to grant eligible investors options to purchase shares at fixed prices in 2028 and 2030. These options, pending shareholder approval expected by mid-July, offer exercise prices of 3.4 and 4.6 cents respectively, providing a potential upside if the company’s value grows over the coming years.
Funding Strategic Growth and Product Development
The freshly raised capital is earmarked to fuel several critical initiatives. These include advancing regulatory studies for Flavocide®, scaling up production of Qcide®, and supporting ongoing product development. Additionally, funds will back commercial partnerships and strategic projects, alongside bolstering general working capital to sustain operations.
Positioning for Market Impact
Bio-Gene’s bio-insecticides address a pressing global challenge, overcoming insecticide resistance while minimizing environmental and health impacts. With products spanning public health, agriculture, and consumer markets, the company is positioning itself to meet growing demand for safer, nature-derived pest control solutions.
Next Steps and Market Watch
Shareholders and market watchers will be keenly awaiting the outcome of the upcoming extraordinary general meeting, where approval for the option grants will be sought. The subsequent issuance of shares and options, alongside progress in regulatory and commercial milestones, will be pivotal in shaping Bio-Gene’s trajectory in the competitive bio-insecticide sector.
Bottom Line?
Bio-Gene’s latest capital raise sets the stage for critical product advances, but shareholder approval and execution remain key hurdles ahead.
Questions in the middle?
- Will shareholders approve the proposed option grants at the July meeting?
- How quickly can Bio-Gene translate funding into regulatory approvals and commercial deals?
- What impact will the new shares and options have on Bio-Gene’s share price and investor sentiment?
