Business
Result of Placing and Subscription
Result of Placing and Subscription.
About this update from Creo Medical Group Plc
[{"type":"text","content":"\n \n \n THIS ANNOUNCEMENT, INLCUDING THE INFORMATION CONTAINED IN IT, IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION, DISTRIBUTION OR FORWARDING, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, NEW ZEALAND, CANADA, THE REPUBLIC OF IRELAND, THE REPUBLIC OF SOUTH AFRICA, JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, RELEASE OR DISTRIBUTION WOULD BE UNLAWFUL.\n \n \n \n \n \n FURTHER, THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND IS NOT AN OFFER OF SECURITIES IN ANY JURISDICTION.\n \n \n \n \n \n THIS ANNOUNCEMENT WAS DEEMED BY THE COMPANY TO CONTAIN INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATIONS (EU) NO. 596/2014 AS THEY FORM PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018. WITH THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.\n \n \n \n \n \n LEI: 213800H188ZDCWWXFA21\n \n \n \n \n \n \n \n \n 16 February 2023\n \n \n \n \n \n \n Creo Medical Group plc\n \n \n \n (\"Creo\" or the \"Company\")\n \n \n \n \n \n \n Result of Placing and Subscription\n \n \n \n \n \n \n \n \n \n \n \n \n \n The Company is pleased to announce that, further to the announcement made on\n 16 February 2023\n (RNS No 0797Q)\n regarding the Fundraising (the \"Launch Announcement\"), it has raised, subject to certain conditions, approximately £28.5 million (before expenses) by the placing of an aggregate of 142,500,000 new Ordinary Shares by way of the Placing and Subscription, each at an Issue Price of\n 20\n pence per share. Cenkos and Numis acted as joint bookrunners in relation to the Placing and Subscription.\n \n \n \n \n \n In response to strong investor demand, the Placing was increased and, following the deduction of associated fees and expenses, the net proceeds receivable by the Company from the Placing and Subscription will be approximately £26.8 million, which will be used, together with the proceeds raised from the Open Offer, to maintain momentum in the business and provide the Company with a pathway to cash flow breakeven and, ultimately, to profitability, as further described in the Launch Announcement.\n \n \n \n \n \n The Company consulted with a number of its major shareholders prior to the Placing and Su...