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FIREBRICK PHARMA LIMITED — Capital/Financing Update 2026
Mar 30, 2026
64942_rns_2026-03-30_c8a884cb-0ed2-4cd0-bc18-e8c758a45de6.pdf
Capital/Financing Update
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31 March 2026
ASX Announcement
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Firebrick Secures $1.5 million via Placement
Firebrick Pharma Limited (ASX:FRE) ( Firebrick, Company ) is pleased to announce that it has secured firm commitments from investors for approximately $1.5 million, which was the target for the Placement, through the issue of approximately 31,914,893 fully paid ordinary shares (“ Shares ”) at an issue price of $0.047 (4.7 cents) per share (the “ Placement ”).
The Placement was strongly supported by new and existing sophisticated investors.
Details of the Placement:
The 31.9 million Shares will be issued pursuant to the Company’s existing placement capacity under ASX Listing Rules 7.1 and 7.1A. The Shares to be issued represent approximately 12.6% of current shares on issue (252,479,085). The issue price of $0.047 per share represents a discount of 16.5% to the 15-day VWAP to 26 March 2026 ($0.05630) and a 13% discount to the last trading place on 26 March 2026, being $0.054 (5.4 cents).
Placement participants will receive one free attaching option ( Option ) for every two Shares issued, with an exercise price of $0.095 (9.5 cents) and an expiry date of 4 July 2028. Subject to meeting ASX requirements, the Company will seek to quote the Options on the ASX.
SP Corporate Advisory Pty Ltd acted as Lead Manager to the Placement and will receive a fee of 6% on any funds they raise, along with one Option for every five Shares issued. The Options will be issued on the same terms as the Placement participants.
Terms and Conditions of the Options are attached.
The Options will be issued pursuant to the Company’s existing placement capacity under ASX Listing Rule 7.1. The Shares and Options are expected to be issued on or around 9 April 2026.
Use of Funds:
Proceeds from the Placement will be applied as follows:
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Costs associated with expansion of Business Development & Licensing (BD&L)
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New product development (NPD) costs of two new products; and
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Working Capital up to 12 months.
This announcement was authorised for release by Dr Peter Molloy, Executive Chairman, Firebrick Pharma Ltd.
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Firebrick Pharma Ltd | ABN 64 157 765 896 | L10, 440 Collins St. Melbourne, VIC, 3000, Australia P: 1300 301 874 | W: firebrickpharma.com
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About Firebrick (ASX:FRE)
Firebrick Pharma is developing and commercialising novel formulations and uses of povidoneiodine (PVP-I). Its first product, Nasodine® Nasal Spray (0.5% PVP-I), has been introduced into the United States, Singapore, and Fiji & South Pacific. The Company is pursuing approval in other markets, including the Philippines. Nasodine[®] Throat Spray is the first follow-on product, now available in Singapore and Fiji. Firebrick recently announced plans for a total of up to four products in the Nasodine range and plans to expand sales to up to 10 markets over - three years, including the Philippines. For further information, visit https://nasodine sg.com/
Contacts:
Media contact:
Matthew Wright, NWR Communications [email protected]
Shareholder Company contact:
Kam Watson, Firebrick Pharma [email protected]
Firebrick Pharma Ltd | ABN 64 157 765 896 | L10, 440 Collins St. Melbourne, VIC, 3000, Australia P: 1300 301 874 | W: firebrickpharma.com
TERMS AND CONDITIONS OF OPTIONS
| 1. | Entitlement | Subject to paragraph 12, Each Option entitles the holder to subscribe for one Share upon exercise of the Option. |
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| 2. | Exercise Price | Subject to paragraph 9, the amount payable upon exercise of each Option will be $0.095 (Exercise Price). |
| 3. | Expiry Date | Each Option will expire at 5:00 pm (AEST), 4 July 2028 (Expiry Date). An Option not exercised before the Expiry Date will automatically lapse on the Expiry Date |
| 4. | Exercise Period | The Options are exercisable at any time on or prior to the Expiry Date (Exercise Period). |
| 5. | Exercise Notice | The Options may be exercised during the Exercise Period by notice in writing to the Company in the manner specified on the Option certificate (Exercise Notice) and payment of the Exercise Price for each Option being exercised in Australian currency by electronic funds transfer or other means of payment acceptable to the Company. |
| 6. | Exercise Date | An Exercise Notice is only effective on and from the later of the date of receipt of the Exercise Notice and the date of receipt of the payment of the Exercise Price for each Option being exercised in cleared funds (Exercise Date). |
| 7. | Timing of issue of Shares on exercise |
Within five Business Days after the Exercise Date, the Company will: (a) issue the number of Shares required under these terms and conditions in respect of the number of Options specified in the Exercise Notice and for which cleared funds have been received by the Company; (b) if required, give ASX a notice that complies with section 708A(5)(e) of the Corporations Act, or, if the Company is unable to issue such a notice, lodge with ASIC a prospectus prepared in accordance with the Corporations Act and do all such things necessary to satisfy section 708A(11) of the Corporations Act to ensure that an offer for sale of the Shares does not require disclosure to investors; and (c) if admitted to the official list of ASX at the time, apply for official quotation on ASX of Shares issued pursuant to the exercise of the Options. If a notice delivered under 7(b) for any reason is not effective to ensure that an offer for sale of the Shares does not require disclosure to investors, the Company must, no later than 20 Business Days after becoming aware of such notice being ineffective, lodge with ASIC a prospectus prepared in accordance with the Corporations Act and do all such things necessary to satisfy section 708A(11) of the Corporations Act to ensure that an offer for sale of the Shares does not require disclosure to investors. |
| 8. | Shares issued on exercise | Shares issued on exercise of the Options rank equally with the then issued shares of the Company. |
| 9. | Reorganisation | If there is a reorganisation of the issued share capital of the Company (including any subdivision, consolidation, reduction, return or cancellation of such issued capital of the Company), |
| the rights of the holder will be changed to the extent necessary to comply with the ASX Listing Rules applicable to a reorganisation of capital at the time of the reorganisation. |
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| 10. | Participation in new issues |
There are no participation rights or entitlements inherent in the Options and holders will not be entitled to participate in new issues of capital offered to Shareholders during the currency of the Options without exercising the Options. |
| 11. | Change in exercise price/Adjustment for rights issue |
An Option does not confer the right to a change in Exercise Price or a change in the number of underlying securities over which the Option can be exercised. |
| 12. | Adjustment for bonus issues of Shares |
If the Company makes a bonus issue of Shares or other securities to existing Shareholders (other than an issue in lieu or in satisfaction of dividends or by way of dividend reinvestment): (a) the number of Shares or other securities which must be issued on the exercise of an Option will be increased by the number of Shares or other securities which the holder would have received if the holder had exercised the Option before the record date for the bonus issue; and (b) no change will be made to the Exercise Price. |
| 13. | Transferability | The Options are transferable subject to any restriction or escrow arrangements imposed by ASX or under applicable Australian securities laws. |