Business
Result of the Open Offer
Result of the Open Offer.
About this update from Avacta Group Plc
[{"type":"text","content":"\n \n \n THIS 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.\n \n \n THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT ITSELF CONSTITUTE AN OFFER TO BUY, ACQUIRE OR SUBSCRIBE FOR (OR THE SOLICITATION OF AN OFFER TO BUY, ACQUIRE OR SUBSCRIBE FOR) SECURITIES IN ANY JURISDICTION.\n \n \n THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.\n \n \n 8 November 2022\n \n \n \n \n \n \n \n \n Avacta Group plc\n \n \n \n \n \n \n \n \n (\"Avacta\" or \"the Group\" or \"the Company\")\n \n \n \n \n \n \n \n \n Result of the Open Offer\n \n \n \n \n \n \n \n \n \n \n \n \n \n Avacta Group plc (AIM: AVCT), a clinical stage biopharmaceutical company developing innovative cancer therapies and powerful diagnostics based on its proprietary Affimer® and pre|CISION™ platforms\n , announced on 18 October 2022 the details of a proposed Open Offer (the \"Open Offer\") to raise gross proceeds of up to approximately £2.0 million through the issue of up to 2,106,980 Open Offer Shares at 95 pence per share.\n \n \n \n \n \n The Open Offer closed for acceptances at 11:00 am on 7 November 2022. The Company is pleased to announce that it has received valid applications under the Open Offer (including under the Excess Application Facility) in respect of 16,258,999 Open Offer Shares from Qualifying Shareholders (the \"New Ordinary Shares\"). This represents approximately 772% of the Open Offer Shares offered to Qualifying Shareholders pursuant to the Open Offer.\n \n \n \n \n \n The Open Offer is conditional upon Admission occurring. Application has been made to the London Stock Exchange for 2,106,980 New Ordinary Shares to be admitted to trading on AIM. It is expected that Admission will become effective and dealings will commence in the New Ordinary Shares at 8.00 a.m. on 9 November 2022.\n \n \n \n \n \n This announcement should be read in conjunction with the full text of the circular issued on 19 October 2022 (\"Circular\"). All capitalised/defined terms used in this announcement and not otherwise defined shall have t...