Mesoblast capital raising history

Floated in December 2004 after raising $21m at 50c.

1. 2006: $15m placement followed by an SPP at $1.25 which attracted $2.17m in applications.

2. December 2007: $13.4m placement at $1.28 in December 2007 managed by "specialist institutional house Lodge Corporate" with no follow-on SPP for retail shareholders.

3, March 2009: raised $10.81m in a placement at 72c, which was a 10% discount to market at the time. March 2009 was the post-GFC low and there was no SPP for retail.

4. May 2010: raised $37m in a placement at $1.70 with no retail component as part of a deal to buy Angioblast which also involved issuing 94.6m new shares to the vendors.

5. February 2011: raised $139m after shareholders approved placing 24.7m shares to Cephalon Inc at $4.35, lifting its stake to 19.9%. No equivalent opportunity offered to retail shareholders.

6. March 2013: did another private institutional placement raising $170m from institutions at $6.30 a share with no follow on SPP for retail shareholders.

November 2015: raised $96m when dual listing on the NASDAQ.

7. 2019: The company's 13,000 retail shareholders were excluded from a $75 million placement at $2 a share.

September 2017: 1-for-12 non-renounceable at $1.40 with unlimited overs run by Bell Pooter which raised $50.7m.

8. March 2021: completed a $138 million placement at $3.20 a share to a strategic US investors but no follow-on SPP.

9. August 2022: did another $65m placement at 75c with no SPP for retail.

10. 2023: $US42.8 million placement at 85c, a hefty discount to the previous close of 99c, with no follow on SPP for retail holders. The main ASX announcement failed to mention the discount or the $US2.8m in costs which were disclosed in this ASX pro-forma. Stock crashed to 88c the next day.

11. 2025: $260m placement at $2.50 with no SPP for retail. Market cap around $3.1 billion after placement when stock tumbled from $2.81 to $2.55 in the first day after the placement.

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