Business
Equity Fundraising to raise £3.0 million
Equity Fundraising to raise £3.0 million.
About this update from Edx Medical Group Plc
[{"type":"text","content":"\n\nThis announcement contains inside information as stipulated under the UK version of the Market Abuse Regulation No 596/2014 which is part of English law by virtue of the European (Withdrawal) Act 2018, as amended. On publication of this announcement via a regulatory information service, this information is considered to be in the public domain.\n \n\n \n20 March 2025\nEDX Medical Group plc\nAQSE: EDX\n(\"EDX Medical\" or the \"Company\")\n \nEquity Fundraising to raise £3.0 million\n \nCAMBRIDGE, UK: EDX Medical Group plc, which develops innovative digital diagnostic products and services supporting personalised treatments for cancer, cardiovascular and infectious diseases, announces that the board of the Company has approved the issue of 21, 428,571 new ordinary shares of 1p each in the Company (the \"Subscription Shares\") at a price of 14p per share (the \"Fundraising\") to raise £3,000,000 for the Company.\n \nThe net proceeds of the Fundraising will support the acceleration of regulatory preparation and scaling up of production of a new prostate cancer 'super test', announced by the Company on February 17,2025.\n \nNew and existing institutional and retail investors have subscribed to the Fundraising. Oberon Capital has acted as sole broker to the Fundraising.\n \nThe funding round has been led by Professor Sir Chris Evans, OBE, founder of EDX Medical, who has subscribed for 5,285,714 of the Subscription Shares for £740,000. Sir Chris now owns 135,965,714 ordinary shares, representing 36.60% of the issued share capital.\n \nDr Mike Hudson, chief executive of EDX Medical, and Martin Walton, board director and Deputy Chair of the Company, each subscribed for 60,714 of the Subscription Shares at the Subscription Price. Dr Hudson now owns 20,506,602 ordinary shares, representing 5.52% of the issued share capital. Mr Walton now owns 145,714 ordinary shares, representing 0.04% of the issued share capital.\n \nApplication has been made for the Subscription Shares to be admitted to trading on the AQSE Growth Market (\"Admission\") and the Subscription remains conditional on Admission. It is expected that Admission will take place on 26 March 2025.\n \nProfessor Sir Chris Evans, OBE, founder of EDX Medical, commented: ...