Vista Pharmaceuticals Limited announced a private placement of 26,758,000 pre-paid warrants at INR 2.5 per warrant for gross proceeds of INR 66,895,000 on September 3, 2022. The transaction will include participation from Murali Meraga for 9,000,000 warrants, Pavan Sathvik Gilaka for 7,758,000 warrants, Deepthi Pachipala for 1,500,000 warrants, Umakanth Katta for 5,000,000 warrants, Rajesh Muppaneni for 2,000,000 warrants and Chittajallu Naga Keerthi for 1,500,000 warrants. The company will issue shares on preferential basis.

The company will receive 25% of the total amount as upfront payment and the remaining 75% will be paid within 18 months as an exercise price. The warrants expire after eighteen months from the date of allotment. The transaction has been approved by board of directors of the company.

The transaction is subject to shareholders approval to be obtained on September 8, 2022.