🔴 Rua Bioscience is trading 6.25% down today after announcing a discounted renounceable rights issue

Rua Bioscience is trading 6.25% lower at NZ$0.03 after announcing a pro-rata renounceable rights issue priced at NZ$0.025 per share. - The offer price is a 32% discount to its recent 20-day VWAP. - The fundraising could create dilution and signals ongoing working-capital needs. - Management highlights a UK distribution agreement expected to generate NZ$10 million over two years; the rights issue is the clearest company-specific explanation for the September 22 decline.