Rua Bioscience offers discounted shares to raise $3.1m

Rua Bioscience has announced a renounceable rights issue, offering existing shareholders the opportunity to participate in the offer.

The company aims to raise up to $3.1 million through the rights offer, with the funds to be used for immediate cash flow requirements, working capital, and marketing activities.

The issue price under the rights offer is $0.025, representing a 47.9% discount to the 5-day volume weighted average price of Rua shares.

Eligible shareholders who take up their rights in full will also have the option to apply for additional shares.

The key dates for the rights offer have been outlined, with the offer document and investor presentation available on the company's website.