Radiopharm raises up to $13M via US and Australian offerings

Radiopharm Theranostics Limited (ASX: RAD, Nasdaq: RADX) announced a registered direct offering in the United States and concurrent capital raises in Australia, seeking to collect a combined total of up to approximately A$12.7 million (US$8.9 million) across all transactions.

The U.S. portion consists of a registered direct offering of 1,281,646 American Depositary Shares at US$3.16 per ADS, with each ADS representing 300 ordinary shares, for gross proceeds of approximately US$4.1 million before fees and expenses. H.C. Wainwright & Co. is acting as the exclusive U.S. placement agent. The offering is expected to close on or about July 28, 2026.

In a concurrent private placement, the company agreed to issue unregistered warrants to purchase up to 1,281,646 ADSs at an exercise price of US$3.79 per ADS, expiring July 31, 2029. The warrants are subject to shareholder approval before they become exercisable.

In Australia, the company received firm commitments from institutional and professional investors for approximately A$6.7 million (US$4.7 million) in a private placement. A portion of that raise, covering 40.0 million ordinary shares representing A$0.6 million, requires shareholder approval due to ASX listing rule limitations.

Radiopharm also plans to offer a Share Purchase Plan to shareholders in Australia and New Zealand, targeting up to an additional A$6 million (US$4.2 million), subject to shareholder approval. Participants in the Australian Placement and the Share Purchase Plan are expected to receive one option for every new ordinary share subscribed for, at an exercise price of A$0.018 per option, also expiring July 31, 2029.

The company said it expects to seek all required shareholder approvals at an extraordinary general meeting scheduled for on or about September 11, 2026.

Radiopharm stated it intends to use the proceeds to support the start of its RAD101 registrational study, advance clinical programs, pursue strategic partnerships, and fund general working capital needs.

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