Business
Result of Oversubscribed Fundraise
Avacta Group plc has successfully raised £10 million through an oversubscribed placing and subscription of new ordinary shares at 63 pence per share. This includes a £550,000 subscription by directors Richard Hughes and David Bryant. The company also agreed to issue warrants to Zeus Capital for 4,364,457 ordinary shares, representing 0.96% of the enlarged share capital, exercisable at 63 pence per share for five years. These transactions, including Zeus Capital's participation in the placing, are considered related party transactions and have been deemed fair and reasonable by the independent directors. Admission of the new shares to AIM is expected on or around April 7, 2026, at which point the company's enlarged issued ordinary share capital will be 456,288,511 shares. Disclaimer*
About this update from Avacta Group Plc
[{"type":"text","content":"\n\n \nTHIS ANNOUNCEMENT AND THE INFORMATION CONTAINED IN IT, IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. PLEASE SEE THE IMPORTANT NOTICE IN THIS ANNOUNCEMENT.\n \nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET ABUSE REGULATION (EU) 596 / 2014 WHICH FORMS PART OF UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 (AS AMENDED) (\"MAR\").\n \nFOR IMMEDIATE RELEASE\n \nAvacta Group plc\n \n(\"Avacta\" or the \"Group\" or the \"Company\")\n \nResults of Oversubscribed Placing and Subscription\n \n \nLONDON and PHILADELPHIA - March 27, 2026 - Avacta Therapeutics (AIM: AVCT, \"the Company\", \"Avacta\"), a clinical stage biopharmaceutical company developing pre|CISION®, a tumor-activated oncology delivery platform, is pleased to announce that, further to the Company's announcement on 26 March 2026 (the \"Launch Announcement\"), the Company has conditionally raised gross proceeds of £10 million through the Placing of 15,000,000 new Ordinary Shares (the \"Placing Shares\") and Subscription for 873,016 new Ordinary Shares (the \"Subscription Shares\") by certain Directors of the Company, in each case, both at a price of 63 pence per Ordinary Share (the \"Issue Price\").\n \nTogether, the Placing Shares and the Subscription Shares in aggregate represent approximately 3.60 per cent. of the existing issued ordinary share capital of the Company and the Issue Price represents a discount of approximately 9.35 per cent. to the closing mid-market price of 69.5 pence per Ordinary Share on 25 March 2026, being the last trading day prior to publication of the Launch Announcement. The Placing and Subscription are conditional, inter alia, on Admission occurring and the Placing Agreement not being terminated prior to Admission.\n \nZeus Capital acted as sole broker and sole bookrunner in connection with the Placing and Subscription.\n \nCapitalized terms used in this announcement but not otherwise defined have the meanings given to them in the Launch Announcement, unless the context provides otherwise.\n \n \...