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BIO-GENE TECHNOLOGY LTD — Capital/Financing Update 2026
May 25, 2026
64521_rns_2026-05-25_262118d2-ab9c-4733-9f78-df47272d69b2.pdf
Capital/Financing Update
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ASX ANNOUNCEMENT
26 May 2026
BIO-GENE
TECHNOLOGY
LTD
Bio-Gene raises $3.21 million via Placement and Partially Underwritten Share Purchase Plan
- Placement raises $2.71m from professional and sophisticated investors
- Funds will support remaining studies for Bio-Gene’s first Flavocide® regulatory dossier and the expanded production of Qcide® for supply to partners
- A Share Purchase Plan underwritten to a minimum of $500,000
Bio-Gene Technology Limited (ASX:BGT, Bio-Gene or the Company), an Australian company developing new insecticides derived from nature to achieve high impact worldwide, is pleased to announce that it has received binding commitments from sophisticated and professional investors to raise gross proceeds of approximately $2.71 million (the Placement) at an issue price of $0.025 per share.
For every two shares issued under the Placement, investors will receive one free attaching unlisted option (subject to shareholder approval), exercisable at $0.035 per option and expiring 15 October 2027.
The Company will also offer each registered holder of Bio-Gene shares as at 7.00pm (Melbourne, Australia time) Monday, 25 May 2026 and whose registered address is in Australia (Eligible Shareholders) the opportunity under the Share Purchase Plan (SPP) to acquire up to $15,000 in fully paid ordinary shares in the Company (with one free-attaching option (exercisable at 3.5 cents per option and expiring 15 October 2027) for every two shares issued to participants in the SPP) on the same terms as the Placement without paying brokerage fees or other transaction costs irrespective of their holding size. The Company expects to commence the SPP on Tuesday 2 June 2026, with the closing date of the SPP expected to be Friday, 19 June 2026.
Tim Grogan, Managing Director & Chief Executive Officer for Bio-Gene, commented:
"Funds raised in this Placement, and under the planned SPP, will be used to undertake the remaining safety studies required for Bio-Gene to submit our first application for regulatory approval of Flavocide® active constituent in Australia. Subsequently, achieving regulatory approval for Flavocide active constituent will be a key milestone in the execution of the Company’s strategy.
"In addition, this funding will enable Bio-Gene to increase production of Qcide®, undertake product development activities supporting our commercial partnering arrangements, various strategic projects and for working capital.
"We are very pleased to achieve this support from both new investors and our existing shareholders. This funding will enable us to continue to build momentum and accelerate our plans to commercialise both Flavocide and Qcide."
ASX ANNOUNCEMENT
26 May 2026
BIO-GENE
TECHNOLOGY
LTD
Use of Proceeds
Proceeds raised from the Placement and SPP will be used to fund Flavocide regulatory enabling studies, increasing production of Qcide, product development activities supporting the Company's commercial partnering arrangements, strategic projects, general working capital and costs of the raise.
Terms of the Placement
The placement involves the issue of fully paid ordinary shares (Placement Shares) on the following terms:
| Issue Price: | $0.025 (2.5 cents) per Share, being:
• a discount of 13.79% to the last close price of the Company’s shares on 21 May 2026 of 2.9 cents per share; and
• a discount of 22.11% to the 15-day volume weighted average price of 3.21 cents per share as at 21 May 2026. |
| --- | --- |
| Tranches: | The Placement Shares are to be issued in the following two tranches: |
| Tranche 1: | Approximately 76.24 million Placement Shares expected to be issued on 2 June 2026 to raise approximately A$1.9 million within the Company’s available placement capacity under ASX Listing Rule 7.1 (45,733,890 shares) and ASX Listing Rule 7.1A (30,506,110 shares). |
| Tranche 2: | Approximately 32.16 million Placement Shares to raise approximately A$0.8 million, which issue is conditional on the Company obtaining shareholder approval at an extraordinary general meeting of shareholders (EGM). The EGM is proposed to be held on or around 31 July 2026. |
| Approximately 54 million attaching Options: | For every two Placement Shares which are issued, subject to shareholder approval being obtained at the proposed EGM, one free attaching unlisted option with the following terms will be granted: |
| | • one option with an exercise price of A$0.035 and an expiry date of 15 October 2027 (approximately 17 months from the date on which the Placement Offer and SPP are undertaken) |
ASX ANNOUNCEMENT
26 May 2026
BIO-GENE
TECHNOLOGY
LTD
Placement Timetable
| Settlement of Tranche 1 | Monday, 1 June 2026 |
|---|---|
| Allotment of Tranche 1 | Tuesday, 2 June 2026 |
| Proposed EGM Meeting and results of EGM announced | On or around 31 July 2026 |
| Settlement of Tranche 2 | On or around 31 July 2026 |
| Allotment of Tranche 2 | On or around 31 July 2026 |
| Options issued | On or around 31 July 2026 |
Stralis Capital Partners Pty Ltd acted as Lead Manager for the Placement and will be entitled to a cash fee of approximately $150,000. In addition, subject to shareholder approval being obtained at the proposed EGM, the Company will issue approximately 3,721,150 unlisted adviser options on the same terms as the options attached to the Placement and SPP.
Proposed Share Purchase Plan
The Company will provide Eligible Shareholders with the opportunity to subscribe for Shares worth up to the Maximum Application Amount in respect of each Eligible Shareholder (being an amount up to A$15,000) at an issue price of A$0.025 (2.5 cents) per Share, without incurring any brokerage, commissions or other transaction costs under a Share Purchase Plan (SPP).
Shares issued under the SPP will also include options under an Options Prospectus on the same terms as the attaching options under the Placement.
The Company has entered into an underwriting agreement for up to $500,000 of funds raised under the SPP with a 6% cash fee payable to the underwriter (Dr Choon Huat Lee). The issue of underwritten SPP shares and options pursuant to the agreement will be subject to shareholder approval being obtained at the proposed EGM.
The Company expects to commence the SPP on Tuesday 2 June 2026, with the closing date of the SPP expected to be Friday, 19 June 2026.
Approved for release by the Board of Directors.
- ENDS -
ASX ANNOUNCEMENT
26 May 2026
BIO-GENE
TECHNOLOGY
LTD
For further information, please contact:
Bio-Gene Technology Limited:
E: [email protected]
Matthew Wright
NWR Communications
E: [email protected]
M: 0451 896 420
About Bio-Gene Technology Limited
Bio-Gene is an Australian company developing novel bio-insecticides to address the global challenges of insecticide resistance. Its unique products are based on a naturally occurring class of compounds proven to overcome insecticide resistance to control pests with minimal impact on human health and the environment.
Bio-Gene’s products have multiple applications across crop protection, grain storage, public health and consumer uses. They provide new options derived from nature to meet market demand for effective and safe pest management solutions.
Flavocide® and Qcide® are registered trademarks of Bio-Gene Technology Limited.
To subscribe to Bio-Gene’s announcements and other forms of email communication, please visit this page of our website.
www.bio-gene.com.au