iX Biopharma raises S$3.18M as insiders exercise 46% of warrants
What's the deal? iX BiopharmaDealroom has a profile for this one. Try Dealroom → has raised roughly S$3.18 million in post-IPO equity after 92% of the warrants under its 2024 rights cum warrants issue were exercised, converting into about 53 million new shares at 6 cents each. On July 15, 2026, the company allotted 11,734,627 new ordinary shares from the latest tranche.
Who's buying? Executive chairman and controlling shareholder Eddy Lee Yip Hang took 9,565,650 of those shares, with 2,055,157 going to his spouse, Jane Tang Choy Leng. The move lifted Lee's stake from 22.07% to 22.9%.
Why now? The allotment came ahead of the July 17 warrant expiry deadline. The new shares rank pari passu with existing shares and are expected to list on the SGX-ST around July 17.
What's the endgame? iX Biopharma says the proceeds will strengthen its balance sheet and support growth priorities, including expansion into the United States via the compounding pharmacy pathway.
The signal: Management and directors accounted for about 24.2 million of the exercised shares, or 46% of the total — what the company calls "a substantial vote of insider confidence led by Lee." iX Biopharma shares closed 5.41% higher at 39 cents on July 15.
Read more: The Edge Singapore
Image credit: zhouxuan12345678
