Benitec said this week that its previously announced A$8 million ($8.5 million) renounceable rights issue has successfully closed oversubscribed.

“The offer was four new shares for every five fully paid ordinary shares held, plus one new free listed option for every four new shares issued, resulting in the issue of 404,565,897 new shares and 101,141,474 new listed options with an exercise price of AU$0.04,” the company said. “A further 100,160,982 options, with the same terms … will be issued to the sub-underwriters of the issue.”

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